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CRA Survives Its Toughest Challenge

There is nothing more exhilarating than to be shot at without result. –Winston Churchill The Community Reinvestment Act (CRA) has survived the most serious attack in its 22-year history. The financial […]

Article

Some Act

Between the recent string of bank failures and shotgun weddings, Citigroup’s FDIC-brokered purchase of troubled Wachovia this morning, and talk of handing off a heaping helping of toxic mortgage debt […]

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Financial “Progress” Leaves Communities Behind

For the past 20 years, the financial services industries have lobbied Congress to rewrite the key law that regulates them to better serve their particular interests. President Clinton has just […]

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You Get What You Need

To quote Mick Jagger, “You can’t always get what you want, but if you try real hard, you’ll get what you need.” The CRA provisions in the financial modernization bill […]

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Strengthening the CRA

In 1995, the last time federal banking agencies revised the rules of the Community Reinvestment Act (CRA), they promised to conduct a follow-up review in 2002. Now that 2002 is […]

Article

Tanya Wolfram

Change is all around us. People change, times change. The community development work we do is geared to effect change – in politics and business, the quality of someone’s life, […]

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Banks Can Earn CRA Credit for COVID Response—But Who’s Benefiting?

All banking activities, regardless of whether they benefit middle- and upper-income or low- and moderate-income people and communities, could count in the next round of CRA exams. This would further disadvantage communities that are already disproportionately impacted by the pandemic.