Community Development Innovation Review

February 2009
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A More Modern CRA for Consumers

Author(s):

When the Community Reinvestment Act (CRA) was enacted in 1977, low-income American communities, especially in cities, were suffering from disinvestment and a lack of credit availability. The CRA requires banks and thrifts operating in and near those communities to lend in them, consistent with safe and sound operations. Since 1977, the financial services system and financial needs of low- and moderate-income consumers have changed dramatically.

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Other articles in this issue

A Framework for Revisiting the CRA

The Community Reinvestment Act and the Recent Mortgage Crisis

The 30th Anniversary of the CRA: Restructuring the CRA to Address the Mortgage Finance Revolution

The CRA within a Changing Financial Landscape

The Community Reinvestment Act: Outstanding, and Needs to Improve

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

The Community Reinvestment Act at 30 Years

A Tradable Obligation Approach to the Community Reinvestment Act

The Community Reinvestment Act: Past Successes and Future Opportunities

CRA Lending During the Subprime Meltdown

Expanding the CRA to All Financial Institutions

What Lessons Does the CRA Offer the Insurance Industry?

CRA 2.0: Communities 2.0

The Community Reinvestment Act: 30 Years of Wealth Building and What We Must Do to Finish the Job

The CRA as a Means to Provide Public Goods

Putting Race Explicitly into the CRA

Community Reinvestment Emerging from the Housing Crisis

A Principle-Based Redesign of HMDA and CRA Data

The Community Reinvestment Act: Good Goals, Flawed Concept

A Banker’s Quick Reference Guide to CRA