WASHINGTON - The House Banking Committee agreed to use a third of the money in President Clinton's $384 million community development lending bill to provide deposit insurance rebates to commercial banks that lend in low-income communities.

As a result, the House bill proposes two experiments in community development lending: financial assistance for institutions devoted to low-income communities and incentives for mainstream lenders to become involved.

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.