WASHINGTON, (Reuters) – A group of U.S. bank regulators announced Thursday a new attempt to revise fair lending regulations for banks. The aim is to modernize the rules to accommodate the growth of online banking and clarify the requirements for the sector.

Officials at the agency claim that the revision to 1977 Community Reinvestment Act rules, which required banks to provide services to lower-income areas, will expand credit-band banking services to poorer communities. It also creates a uniform metrics-based method for grading banks.