The Community Reinvestment Act: Assessing the Law’s Impact on Discrimination and Redlining Introduction: Public input and accountability are the keys to CRA’s success I thank Chairman Meeks and the members of this subcommittee for providing me the honor of testifying this morning regarding the Community Reinvestment Act’s (CRA) impact in combating discrimination and redlining. […]
Data on community development lending and investing is lacking on a census tract level, making the information incomplete and difficult to assess. However, this is not the case for home mortgage lending data and small business loan data. If the federal regulatory agencies truly want to reform CRA, the first place to start is with better data. It would be a win-win for both banks and community organizations by facilitating identification of underserved areas. It would also further CRA’s objectives of directing access to credit and capital where it is needed most.
The job of massive integration seems overwhelming, but the impetus to pursue diverse neighborhoods appears to be underwhelming. The national racial divide is stark. Segregation impedes overall economic prosperity since large segments of the population are poorly educated and cannot obtain high-skilled jobs. Segregation also poisons our politics by preventing communication and thus deepening conflict […]
In order for the Consumer Financial Protection Bureau (CFPB) to protect millions of consumers from unsound lending, the agency must implement the public disclosure of the enhanced Home Mortgage Disclosure Act (HMDA) data in a rigorous manner that provides comprehensive and public information about loan terms and conditions. NCRC has a mantra about the importance […]
The bill, S. 3503, addresses discriminatory lending, affordable homeownership, modernization of the Community Reinvestment Act and relief for families still recovering from the Great Recession.
Banks want more certainty and easier exams, but points of consensus emerge.
The organizations urged the government to build upon CRA’s successes and to strengthen it, not weaken it.
November 19, 2018 Reforming the Community Reinvestment Act Regulatory Framework Docket ID OCC-2018-0008 To Whom it May Concern: The undersigned groups maintain that the Community Reinvestment Act (CRA) has been one of the most valuable laws for increasing access to capital and credit for low- and moderate-income (LMI) communities. Any CRA reform effort […]
Listen to this discussion hosted by NCRC’s Senior Civil Rights Investigator Rose Ramirez, featuring Community Reinvestment Act Manager Kevin Hill and Senior Community Reinvestment Act Advisor Josh Silver on the Advance Notice of Proposed Rulemaking regarding CRA and what it means to communities throughout the country.