NCRC Claims KeyBank Broke Promises, Failed Black Homeowners
Who is responsible for evaluating whether groups adhere to promises made in a community benefits agreement (CBA)? Is there any recourse for those who don’t get what they were promised? And what lessons can we take away from the KeyBank CBA?
CDCs Are Having a Moment. Can the Momentum Last?
Over the past couple of years, community development corporations have been popping up in sometimes-unexpected places across the country. Will this increased interest in CDCs last, or is it a trend that will end when the money runs out?
Breaking NYC’s Housing Speculation Cycle
When wealthy investors treat homes like poker chips, it is the tenants who end up losing. How do we interrupt the vicious cycle of speculation and displacement?
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?
Say It With Your Chest: Race Matters in Lending
The Community Reinvestment Act was created to address racist lending practices, but it doesn’t specify race. Special purpose credit programs could help.
How to Get Racial Equity into Biden’s Infrastructure Plan
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.
Q: Who Enforces CRA?
Why are there three different agencies enforcing the Community Reinvestment Act, or CRA? Who does each agency enforce it on?
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.
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.
New Writings Suggest Incremental Change Is Best Path for CRA Reform
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."
Improving CRA for Rural America
The Community Reinvestment Act regulations should be recrafted to incentivize investments in underserved and economically distressed communities, many of which are rural.
Don’t Diminish the Importance of Homeownership in CRA Reform
A significant reduction in attention paid to home mortgage lending on CRA exams would be neither economically efficient nor equitable.
Where Banks and the Public Agree on CRA . . ....
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.
Warren Housing Bill Presents a Clear Choice on CRA
Senator Elizabeth Warren and the Office of the Comptroller of the Currency have offered contrasting visions for the future of CRA. How do they differ, and what would the implications for historically disinvested communities be?
CRA “Reform” Under Trump Threatens Communities of Color and the 99...
Banks enjoy consumer and taxpayer-funded privileges, such as deposit insurance, and not too long ago, subsidized trillion-dollar bailouts. It’s not too much to insist that they invest a fair share of those dollars back into all of our communities.
How the Community Reinvestment Act Can Help Flint
The audacious and callous decisions leading to the tragedy in Flint, Michigan are cruel and beyond comprehension. What is needed is an all-out effort...
CRA Modernization: A Critical Moment for Underserved Neighborhoods
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 Continued Importance of Fair Lending in the Age of Obama
Housing discrimination continues to plague the market, as does the myth that the housing crisis resulted from extending homeownership and home mortgage credit to historically underserved groups: minority families. Even with the Obama administration's Homeowner Affordability and Stability Plan and, within that, the Making Home Affordable program, minority groups continue to suffer ongoing discrimination and fair housing violations.
12Page 1 of 2