Community Reinvestment Act

Joe Biden’s Plan for Empowering Black America

Stacy M. Brown, NNPA Newswire Senior CorrespondentMay 7, 2020

Biden said he plans to hold financial institutions accountable for discriminatory practices in the housing market, and he will restore the federal government’s power to enforce settlements against discriminatory lenders. Additionally, the plan calls for Biden to strengthen and expand the Community Reinvestment Act to ensure that the nation’s bank and non-bank financial services institutions are serving all communities.

Business Charlene Crowell News (Business)Opinion

Bicameral lawmakers: Strengthen, not weaken, CRA Capitol Hill hearings urged

Charlene CrowellOctober 24, 2019

For more than 40 years, the Community Reinvestment Act (CRA) has served as a mechanism for the federal government to hold banks and other depository institutions accountable for meeting the credit needs of low and moderate income (LMI) neighborhoods. Enacted in 1977, the CRA has the power to influence applications for bank mergers, charters, acquisitions, and branch openings.

Charlene Crowell National Opinion

Federal Regulator Ready to Reform CRA But Won’t Say If Discrimination Exists

By Charlene CrowellJune 28, 2018

According to the report, Black consumers are the only racial/ethnic group that has made no appreciable progress in homeownership over the past 30 years.