Strengthening the Community Reinvestment Act to Advance Financial Inclusion and Equity
The CRA encourages banks and communities to work together to create opportunity and address the needs of low- and moderate-income areas. As regulators consider the first major update to the CRA in 25 years, it is vital to foster dialogue around the law’s impact and how it can be strengthened further.
Community development staff from the Federal Reserve Bank of Chicago reviewed key elements of a recent Federal Reserve proposal for reforming the CRA, and highlighted questions for public feedback. A panel of community development experts shared their views on how the CRA could be strengthened to further the law’s core purpose of addressing systemic credit inequities. A Q&A session followed the panel discussion.
Strengthening the Community Reinvestment Act to Advance Financial Inclusion and Equity
The CRA encourages banks and communities to work together to create opportunity and address the needs of low- and moderate-income areas. As regulators consider the first major update to the CRA in 25 years, it is vital to foster dialogue around the law’s impact and how it can be strengthened further.
Community development staff from the Federal Reserve Bank of Chicago reviewed key elements of a recent Federal Reserve proposal for reforming the CRA, and highlighted questions for public feedback. A panel of community development experts shared their views on how the CRA could be strengthened to further the law’s core purpose of addressing systemic credit inequities. A Q&A session followed the panel discussion.
