WASHINGTON - In a sign that the industry's fair-lending problems may be ebbing, Federal Reserve Chairman Alan Greenspan applauded banks for their efforts to reach out to minority borrowers.

Addressing a House subcommittee on Wednesday, Mr. Greenspan said newly released lending data "clearly indicate that the banking community is reaching out beyond its narrow historic areas of interest in making loans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.