The Trump White House has made clear it will move to eliminate race-consciousness, a.k.a. “DEI,” in federal policy and regulation. A May Office of Personnel and Management memo to all federal department and agency heads advised that hiring decisions had “overemphasized discriminatory ‘equity’ quotas” and ordered an end to “the hiring of individuals based on their race, sex, or religion.”

A similar change may affect one of the most consequential banking regulations of the past 50 years: the Community Reinvestment Act of 1977. The Trump administration is pushing back against a pending Biden-era change that would have brought race into the implementation of the law, which affects every bank in the country and judges them based on the extent to which they lend to those of low and moderate income. The Trump proposal, first announced July 16, is currently in its 30-day comment period.