Destroying a bipartisan compromise on regulatory relief, Republicans pushed through a House subcommittee an amendment that would exempt 83% of the industry from the Community Reinvestment Act.

The measure, adopted 11 to 8 by House Banking's financial institutions subcommittee, would exempt from the reinvestment act the 8,970 banks with less than $250 million of assets. Regulators would still examine these institutions for compliance with fair-lending laws.

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