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.
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.
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.
Like most beneficiaries of the Community Reinvestment Act, I was completely oblivious to this invisible law. Now I am grateful every day, seeing how clearly my parents’ homeownership transformed my life.
We hosted a Facebook Live video yesterday answering all sorts of questions about changes to the Community Reinvestment Act under consideration by the Trump administration.
November 8, 2018 Reforming the Community Reinvestment Act Regulatory Framework Docket ID OCC-2018-0008 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that the Community Reinvestment Act (CRA or Act) has been one of the most valuable laws for increasing access to capital and credit for low- and moderate-income (LMI) communities. NCRC […]
The following sample resolution provides the history, purpose, and some of the basic functions of CRA and includes the key principles that are critical to preserve in the on-going regulatory reform effort by the nation’s bank regulators. This template is a start and can be adapted by non-profits, localities, state legislatures and other governing bodies moved for immediate adoption. It should […]
“To be sure, the Community Reinvestment Act, like most regulations, can be improved. We’re eager to work with the regulatory agencies, Congress, banks and the entire financial sector to modernize it,” writes Jesse Van Tol, chief executive at the National Community Reinvestment Coalition.