The Mississippi Link, May 4, 2022, Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, the first major revamp to the standards in more than two decades as lenders increasingly offer financial services online
Thursday’s awards luncheon keynote was Kevin Davenport, senior advisor, Campaign and Coalition, National Community Reinvestment Coalition, Washington, D.C. Davenport presented an apparent passionate eye-opening deep-dive into the importance of “Utilizing the Community Reinvest (CRA) Act.”
Davenport told the audience of mostly housing professionals, bankers and others, “We must help more people to be able to purchase a home by advocating for more fair lending and responsible lending.”
Davenport further stated, “We must ensure that we are taking care of those seniors and taking care of those other individuals who have some level of mobility challenges. And, making sure that they don’t go into debt by trying to re-outfit their homes just so they can live in them on a day-to-day basis. We must engage in those policy conversations that are going on right now on capitol hill and through the regulatory bodies as they relate to CRA reform. We must engage in these kinds of conversation if we are going to have any hope of ensuring that housing is going to no longer be just words, and generations to come after us will [not] have to begin to fight the same fight.”
