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ProfitWise News and Views, No. 1, 2016
The Low- and Moderate-income Conditions Survey: A Summary of Seventh Fed District Community Development Practitioner Responses

For the first time, the Federal Reserve Bank of Chicago participated in administering the Kansas City Fed’s low- and moderate-income survey to respondents in the Seventh District. The survey is administered on line twice a year to measure “economic conditions of low- and moderate-income (LMI) populations and the organizations that serve them.” A key motivation for the survey is that compliance with the Community Reinvestment Act (CRA) entails banking institutions subject to CRA to provide credit, investment, and services, consistent with safe and sound banking practices, to LMI populations in their service areas. As a point of reference, LMI is the incomes of individuals below 80 percent of “median income” of an area, as defined by HUD. Median income, which varies by household size, is defined as “metropolitan median income for urban residents and state median income for rural residents.”

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