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CRA

Summary Fact Sheet on the OCC and FDIC CRA Proposed Rule

In the words of dissenting Federal Deposit Insurance Corporation (FDIC) Board member Martin Gruenberg, the FDIC and the Office of the Comptroller of the Currency’s (OCC) Notice of Proposed Rulemaking (NPRM) on the Community Reinvestment Act (CRA) “is a deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act.” The agencies would …

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How to Evaluate Community Development Financing and Services Under CRA

In anticipation of the reform proposals to the Community Reinvestment Act (CRA) expected this week, I am continuing the review of performance measures on CRA exams. The most recent blog looked at performance measures on the lending test. This one will scrutinize performance measures on the investment and service test. 

Do CRA Exams Measure Retail Lending Well?

As we get closer to proposed changes to the Community Reinvestment Act (CRA), a sober assessment of the effectiveness of various parts of CRA exams will help us react to the proposed changes.

NCRC’s Community Benefits Agreement Is Helping LHOME Bring Fair Lending to Louisville

Becoming a Community Development Financial Institution (CDFI) has allowed the Louisville Housing Opportunities and Micro-Enterprise Community Development Loan Fund, Inc. (LHOME), a NCRC member organization, to provide affordable housing and facilitate small business startups in low- to moderate-income (LMI) areas of the city. 

New HMDA data shows need to strengthen CRA, close loopholes, apply to more institutions

Just hours before the start of the Labor Day long weekend, the Consumer Financial Protection Bureau (CFPB) released 2018 Home Mortgage Disclosure Act (HMDA) data. It is the most complete record of mortgage lending in the United States. The data showed non-banks extended their dominance of home lending and that banks essentially dropped out of the government-backed FHA program that helps low- and moderate-income (LMI) borrowers.

The purpose and design of the Community Reinvestment Act (CRA): An examination of the 1977 hearings and passage of the CRA

A version of this article appeared first in Conference of Consumer Finance Law, Quarterly Report, Vol. 72, No. 4 Introduction In 2019, the Community Reinvestment Act (CRA) will be forty-two years old.[1]  Congress enacted the CRA in 1977 as a community development initiative that sought to leverage the financial resources of private sector institutions.  Senator …

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