The Federal Reserve last month issued its own plan to modernize the decades-old anti-redlining law: a metrics-based approach that would separately evaluate retail lending and community development financing.

Townstone Financial seeks to dismiss redlining lawsuit; CFPB settles with debt collectors and auto lenders; the bureau will hold a virtual town hall to discuss managing and protecting finances during difficult times.

Under the proposal, a bank’s mortgage lending activity will be evaluated using two metrics: the percentage of a bank’s mortgage loans made to borrowers in LMI census tracts and borrowers of different income and revenue levels.