The Community Reinvestment Act (CRA) mandates that banks invest in the communities they serve, with a particular focus on reinvestment efforts in low- and moderate-income (LMI) communities. Banks are required to fulfill this obligation by providing access to credit through safe, nonpredatory practices. Although these mandates are often viewed as compliance requirements, that perspective overlooks […]
Investing in underserved communities takes more than a promise – it also takes a plan to keep that promise. The National Community Reinvestment Coalition (NCRC) has developed multiple techniques to ensure that bank commitments translate into meaningful change for historically disadvantaged neighborhoods and that the people who live there, and organizations that service them, have
Housing advocates at the Metropolitan Milwaukee Fair Housing Council (MMFHC) have created an impactful toolkit for vulnerable communities that continue to be impacted by the legacy of redlining. MMFHC traces its roots back to 1977 when Milwaukee’s Sherman Park neighborhood was beginning to become racially integrated. At the time, Sherman Park was a mostly white
A new CRA rulemaking process casts aside years of careful work that produced a compromise on modernizing the Community Reinvestment Act.
A stablecoin is a digital asset that can represent virtually any national currency. In most cases, stablecoins are assigned 1:1 to the US dollar, but can also be pegged to other international currencies, such as the Euro or Yuan. In the past five years, the size of the stablecoin market has risen from approximately $5
The Need for Community Development Accountability for Stablecoin Issuers Read More »
New Jersey lawmakers will now consider a robust state CRA package that would fill gaps in the federal Community Reinvestment Act’s oversight of banks.
NCRC, NJCA Urge Passage Of State CRA Legislation In New Jersey Read More »
Housing nonprofits in Colorado had their hands full following the Great Recession of 2007. Fewer homes were being built, with unemployment causing housing insecurity rates to rise exponentially. Local and state governments also had fewer resources to help those in need. “After the Great Recession, there was a desire to co-advocate in a way that
A recent federal law enforcement settlement with Citadel Federal Credit Union illustrates why the Community Reinvestment Act’s (CRA) omission of credit unions from its rules is a dangerous mistake, a leading community development and financial regulation advocate said Tuesday. “It no longer makes sense to let credit unions out of the common-sense obligations that CRA
A new state-level Community Reinvestment Act from the Illinois legislature offers a roadmap for economic justice.
A legal analysis of the new CRA lawsuit from bank lobbyists.
The Community Reinvestment Act requires public input to be effective. How much do the new CRA rules change public engagement?
Analysis: New CRA Rule’s Improvements To Public Engagement Systems Do Not Go Far Enough Read More »
The Community Reinvestment Act has been plagued by ratings inflation for years. Has the new CRA overhaul fixed it?
CRA Overhaul: Did The Agencies Do Enough To Cure Ratings Inflation? Read More »
A user’s guide to the new Community Reinvestment Act final rule: What’s new, what’s the same, and how will it affect you?
NCRC’s Guide To The 2023 Community Reinvestment Act Final Rule Read More »
In response to the release Tuesday of final interagency regulations overhauling implementation of the Community Reinvestment Act (CRA) for the first time in 28 years, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This update is both long overdue and essential. Marginalized communities still suffer from a variety of
NCRC Statement On Final CRA Rules Release Read More »
Figure Bank’s decision to give up on seeking a charter for an uninsured national bank signals that fintechs are not going to be able to evade Community Reinvestment Act obligations.
