Impact Alpha, October 29, 2021, Institutionalizing the Racial Reckoning in Community Reinvestment Act Reforms
The National Community Reinvestment Coalition recently partnered with Relman Colfax and mapped out in detail how race-conscious approaches to addressing racial economic inequality can be written into CRA, with accountability front and center.
The paper calls for demographic and lending benchmarks focused on people and neighborhoods of color. Part of a race-conscious CRA would include reaching demographic thresholds in the subtests of CRA evaluations, including in retail lending, retail services, community development financing, and community development services.
