A group of 487 civil rights, fair lending, community, and consumer rights organizations today submitted to bank regulators a set of recommendations for strengthening the Community Reinvestment Act (CRA), a law designed to stop discrimination in mortgage and small business lending.
In 1977, Congress enacted the Community Reinvestment Act (CRA) and required federal bank agencies to assess the record of banks in meeting needs for credit and banking services in communities in which banks are chartered. The federal bank agencies responded by creating CRA examinations that assessed banks’ performance in geographical areas containing bank branches and […]
Reforming CRA must not become a pretext for relaxing CRA. The focus of these principles are areas we expect the federal bank agencies to consider in reforming CRA.
A top federal bank regulator has floated no longer enforcing lending rules for the poor based on the locations of a bank’s physical branches, a change likely to be opposed by NCRC and other community groups.
Chase’s arrival in the D.C. area is significant in part because it has been accused of lending discrimination here.
The Department of Treasury has released a long-awaited report recommending the first meaningful reform to the Community Reinvestment Act since 1995.
The Federal Reserve may change decades-old rules that require banks to lend to low-income borrowers as part of a broader effort to revise a range of banking regulations, the U.S. central bank’s head of regulation and supervision said on Monday.
In its classically quiet fashion, the Government Accountability Office (GAO) recently released a significant study, asking the Treasury Department to improve data on CRA exams.
