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CRA reform

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View from the street of a bank built in 1917. From the photographer: The building features a red brick exterior with terra cotta trim, decorative panels with Sullivanesque detailing, Sullivanesque trim, a decorative mosaic in the tympanum below the arch above the front entrance with the word “Thrift” in gold lettering in the middle of an expanse of blue tile and decorative white, cream, green, purple, red, and orange tile accents, decorative metal lettering on the facade above the arch displaying the words “The People’s Federal Savings & Loan Assn." ... Gargoyles above the pilasters framing the front entrance, fixed glass windows at the corners, brass double doors.

How the New CRA Rule Will Help, and Where It Falls Short

The assessments that evaluate a bank’s lending practices have improved, but there are several missed opportunities for reform. For one, the new rules won't incorporate a racial analysis into lending examinations.

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Policy

Proposed CRA Rule Receives Mixed Reviews from Housers

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?

Financial System

Why the Community Reinvestment Act Must Be Expanded Broadly Throughout the Financial Industry

The financial industry has been one of the main perpetrators of racial discrimination. It should be obligated to serve all communities, particularly communities of color.

COVID

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.

Close up of a typewriter with the word "Regulations" typed out
Policy

Business as Usual: Trump Agencies Resist Calls to Suspend Non-Essential Rulemaking

Congressional leaders and community advocates are calling on HUD and financial regulators to suspend non-essential rulemaking. HUD appears to refuse.

Westerly Creek development
Community Development Field

Pulling the Rug From Under Community Development?

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.

Policy

Could Lack of Impact Assessment in OCC and FDIC Proposal Break CRA?

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

redlining map and racial equity
Community Development Field

Redlining Would Be Relegalized by CRA Reform Proposal

In an attempt to make compliance easier for banks, regulators are proposing to incentivize the very thing the Community Reinvestment Act was written to fight.