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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?

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Aerial view of the KeyBank building at night. Windows in it and nearby buildings are lighted.
Equity

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?

A woman wearing a redish sweater and shirt look at at a piece of history at the Jack Hadley Black History Museum in Thomasville, Georgia. She is surrounding by other artifacts.
Community Development Field

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?

Housing

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?

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

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.

Equity

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.

Financial System

Q: Who Enforces CRA?

Why are there three different agencies enforcing the Community Reinvestment Act, or CRA? Who does each agency enforce it on?

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.

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.

bank brach counters
Community Development Field

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.”