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- The Community Reinvestment Act (CRA) is a seminal piece of legislation enacted to address systemic inequities in access to credit as part of a reinforcing set of laws to expand financial inclusion and combat redlining.
www.federalreserve.gov/newsevents/pressreleases/files/bcreg20200921a1.pdf
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Jan 26, 2024 · The Community Reinvestment Act (CRA) helps ensure that federally insured banks meet the credit needs of the communities in which they are located, consistent with safe and sound banking...
- Will Kenton
The Community Reinvestment Act (CRA) is a seminal piece of legislation enacted to address systemic inequities in access to credit as part of a reinforcing set of laws to expand financial inclusion and combat redlining.
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Nov 9, 2020 · The OCC published a summary of key provisions of the June 2020 rule modernizing the agency's regulations under the Community Reinvestment Act, as well as responses to frequently asked questions from bankers and examiners about how the OCC will administer and implement the June 2020 rule.
The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.
Dec 15, 2021 · On December 14, 2021, the Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the federal banking agencies in 1995, as amended.
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and ...
The Community Reinvestment Act of 1977 (CRA) provides a framework for financial institutions, state and local governments, and community organizations to jointly promote banking services to all members of a community.
