US regulators want to remove rules about minority- and women-owned businesses

The Office of the Comptroller of the Currency proposes removing several rules, including those that mention minority- and women-owned entities. This means banks would no longer have specific guidance or requirements related to these groups in certain investment areas.

For years, federal rules have encouraged banks to consider minority- and women-owned businesses in their public welfare investments. Removing these specific references means banks no longer have a clear directive to prioritize or even track these groups. This could shift capital away from businesses that previously benefited from this explicit guidance.