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Poor and middle-income Americans could be deprived of access to bank services such as affordable home loans and low-fee accounts because of changes being proposed by one of the nation's bank regulators, critics of the revisions say. A public comment period on the Federal Deposit Insurance Corporation's proposed changes to the Community Reinvestment Act expired yesterday but an agency spokesman said there was no timeline for a final decision. Proponents contend the revisions would streamline a regulatory process that especially burdens small banks and lending institutions. The act requires banks to make loans in low-income and minority areas where they operate in order to open branches. Current FDIC regulations classify banks with less than $250 million in assets as ''small banks," allowing them to fall under less stringent Community Reinvestment Act guidelines. One of the central parts of the proposal would create a midlevel, less stringent oversight standard for banks with assets between $250 million and $1 billion. The proposal has garnered opposition from groups ranging from the American Corn Growers Association to the Congressional Black and Hispanic caucuses, said Representative Barney Frank, a Massachusetts Democrat and ranking member of the House Financial Services Committee. [more

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