Tag: CRA reform
CDFIs Shouldn’t Act Like Banks, But Too Often Do
When receiving bank funding, CDFIs often limit their investments in accordance with bank restrictions. How can reforms to the Community Reinvestment Act help center the needs of underserved communities?
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?
Why the Community Reinvestment Act Must Be Expanded Broadly Throughout the...
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.
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.
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.
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.
Could Lack of Impact Assessment in OCC and FDIC Proposal Break...
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 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.