WASHINGTON - Consumer activist Ralph Nader blasted proposals to exempt small banks from the Community Reinvestment Act, arguing that many of these institutions do little lending in their communities.

According to a study of June 1994 call report data released Monday by the Nader-founded group Essential Information, 725 community banks put less than 35% of their deposits into loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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