Philadelphia Tribune: Summit rallies forces to fight easing of federal lending law
Philadelphia Tribune, October 10, 2018: Summit rallies forces to fight easing of federal lending law
The importance of ensuring and strengthening the CRA was highlighted during the National Community Reinvestment Coalition’s Reinvest Philly summit.
The summit, which was held Tuesday at the Wyndham Philadelphia Historic District hotel, brought together advocacy groups, community leaders, elected officials and health care leaders to discuss ways to reinvest in communities across the region.
During a discussion titled “Defending the Community Reinvestment Act,” panelists spoke about the law’s importance in addressing redlining, the practice of drawing red lines around areas where lenders refuse to make loans or make loans on less favorable terms. Research has found that the practice caused many people of color living in redlined neighborhoods to be thrown into generational cycles of poverty.