Knowledge Tree
Community Reinvestment Act
Also known as: CRA
Facts (14)
Sources
Regulatory - American Predatory Lending predatorylending.duke.edu 7 facts
claimUnder the Community Reinvestment Act (CRA), financial institutions receive a rating based on their lending and other activities in low- and mid-income neighborhoods, which can affect their approval for mergers, acquisitions, deposit facilities, and branch expansion.
referenceThe Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve are the three federal agencies responsible for enforcing the Community Reinvestment Act (CRA) for the institutions they regulate.
claimInstitutions receive a Community Reinvestment Act (CRA) rating based on their lending and other activities provided to low- and mid-income neighborhoods, which can affect approval for mergers, acquisitions, deposit facilities, and branch expansion.
referenceThe Community Reinvestment Act (CRA) of 1977 is a federal law designed to encourage lenders to meet the credit needs of their entire community, specifically focusing on low- and mid-income neighborhoods.
claimThe Community Reinvestment Act (CRA) applies to all FDIC member institutions, implicitly requiring that banks serve all segments of their community in exchange for deposit insurance.
referenceThe Community Reinvestment Act (CRA) of 1977 was a federal effort to encourage lenders to meet the credit needs of their entire community, particularly low- and mid-income neighborhoods.
referenceThe Community Reinvestment Act (CRA) applies to all FDIC member institutions, requiring them to serve all segments of their community in exchange for deposit insurance.
2025 Fair Lending Trends | Wolters Kluwer wolterskluwer.com Apr 14, 2025 2 facts
claimOn March 28, 2025, the three prudential regulators announced their intent to rescind the 2023 Final Rule that was initially issued to modernize Community Reinvestment Act (CRA) regulations.
quoteA panelist at the 2025 CRA & Fair Lending Colloquium stated: “If you take a complaint from start to finish and handle it the right way, that could be an asset to the bank’s overall fair lending risk management program.”
Predatory Lending Resources | FDIC.gov fdic.gov Aug 11, 2023 2 facts
Fair Lending Report of the Consumer Financial Protection Bureau federalregister.gov Jul 2, 2024 2 facts
claimThe Consumer Financial Protection Bureau published an analysis on November 2, 2023, regarding state-specific versions of Community Reinvestment Act (CRA) laws, which ensure financial institutions' lending, services, and investment activities meet community credit needs.
claimThe HMDA and CRA Data Collection Subcommittee oversees FFIEC projects and programs involving Home Mortgage Disclosure Act (HMDA) data collection and dissemination, the preparation of the annual FFIEC budget for processing services, and the development and implementation of other related HMDA processing projects.
The Power of Change: Innovation for Development and Deployment ... nationalacademies.org 1 fact
claimThe federal government could encourage banks to participate in state green bank programs by using approaches similar to the Community Reinvestment Act, which has successfully increased private capital deployment for local projects.