Senate version of bill on CRA for insurers.

Senate Banking Committee Chairman Donald W. Riegle introduced legislation Thursday that represents a first step toward requiring insurance companies to meet Community Reinvest-ment Act standards.

Tougher than a version that passed the full House last month, the Riegle bill would require policy information disclosure by census tract in 2,100 urban areas.

The House-approved measure requires data to be collected by five-digit ZIP codes only from the largest 25 metropolitan areas.

Although both measures mandate only disclosure requirements rather than a standard of behavior, antiredlining legislation would increase insurance availability in low-income areas, consequently making more loans available, said Philip Corwin, lobbyist for the American Bankers Association.

"A lack of insurance availability interferes with banks' fulfillment of their Community Reinvestment Act responsibility," Mr. Corwin said.

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