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Public comment is open through Aug. 5 on proposed Community Reinvestment Act rule changes. They are worlds better than the Trump-era proposal. Why are some advocates still disappointed?

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 […]

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 […]

The Community Reinvestment Act was created to address racist lending practices, but it doesn’t specify race. Special purpose credit programs could help.

For the last twenty years, community activists across the country have organized residents to fight banks and thrifts that “redline”: i.e., refuse to provide credit and services to low-income and […]

The Community Reinvestment Act (CRA) statute has a statement of purpose affirming that banks “are required by law to demonstrate that their deposit facilities serve the convenience and needs of […]

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 […]

Proposed changes to CRA by the Office of the Comptroller of the Currency and the FDIC conflict with the best practices of community development.

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 […]

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, […]

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.

During the dog days of summer this July, the federal bank agencies decided to quietly bunt instead of swing for the fences when it came to the Community Reinvestment Act […]