Tag: community reinvestment act

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

Congress has an opportunity it must not squander to acknowledge the racial inequity built into our failing infrastructure and put into operation the promise of equity in Biden’s infrastructure plans.

Investments and funding motivated by the Community Reinvestment Act are more foundational to the work of community developers than is often discussed. But if regulations change the incentives for banks, the effects on communities will be dramatic.

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

The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation just released a set of proposed rules for the Community Reinvestment Act that threaten the very heart of the law.

These writings suggest that careful reform of CRA regulations can build upon the progress in lending and investing if the reforms are incremental instead of “transformational." 

Despite a CRA exam pass rate of 98 percent, the major thrust of bank comments is that they want easier exams with fewer moving parts and less uncertainty.

Impact investing may seem like a market-based concept, but government can and does support, enable, and participate in it many ways.

The Community Reinvestment Act and the Consumer Financial Protection Agency Act hold great promise for the creation of a more financially inclusive nation, but both depend on critical "moments in time" in Congress that will determine whether they become good laws or are weakened beyond recognition

The current "bathtub recession" poses a drowning hazard for community development and housing groups, as philanthropic giving shrinks and foundations look beyond nonprofits for solutions to social problems.