Federal Reserve Bank of San Francisco

Community Development

It’s the Rating, Stupid: A Banker’s Perspective on the CRA


February 2009

Community Development Investment Review

The Community Reinvestment Act (CRA) of 1977 has survived more than three decades of restructuring of the banking industry, of sporadic changes in the regulations, and of an evolution of best practices in community development. The CRA has seen many successes but is now in need of a major overhaul if it is to continue to play a meaningful role in strengthening low- and moderate-income (LMI) communities.

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