St. Louis Post- Dispatch, January 26, 2020: Reforms would hurt equitable economic development
On January 20, the staff at the Community Builders Network of Metro St. Louis sent out a statement stating that the proposed changes of the Community Reinvestment Act are most likely to hurt those who need the most assistance from banks. Since its enactment in 1977, the Community Reinvestment Act has been a major asset to the St. Louis Region, especially in communities of color.
Due to President Donald Trump’s proposal, The National Community Reinvestment Coalition estimates that St. Louis city and county are at risk of losing our $382 million in annual lending. If adopted, this proposal could have negative and lasting impacts on the regions ability to promote fair economic development.
