Community Development Innovation Review
February 2009
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Past issues
Expanding the CRA to All Financial Institutions
The Community Reinvestment Act (CRA) was enacted in response to the fact that minority and low-income communities were not being fairly and adequately served by banks which have been beneficiaries of the U.S. government’s safety net since the Great Depression. The federal government, by expanding its safety net in 2008 to include investment banks, broker-dealers, and other financial institutions, took the steps necessary to stabilize the global financial markets. The central premise of this article is that in return for access to the Federal Reserve’s Discount Window, investment banks, broker-dealers, and other financial institutions should be required to comply with an updated CRA. Fair access for all Americans to the full range of financial services is essential to restore our faith in the U.S. financial system and the health of our economy.
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Other articles in this issue
CRA Lending During the Subprime Meltdown
A Banker’s Quick Reference Guide to CRA
The Community Reinvestment Act: Good Goals, Flawed Concept
A Principle-Based Redesign of HMDA and CRA Data
Community Reinvestment Emerging from the Housing Crisis
Putting Race Explicitly into the CRA
The CRA as a Means to Provide Public Goods
The Community Reinvestment Act: 30 Years of Wealth Building and What We Must Do to Finish the Job
What Lessons Does the CRA Offer the Insurance Industry?
A Framework for Revisiting the CRA
A More Modern CRA for Consumers
The Community Reinvestment Act: Past Successes and Future Opportunities
A Tradable Obligation Approach to the Community Reinvestment Act
The Community Reinvestment Act at 30 Years
It’s the Rating, Stupid: A Banker’s Perspective on the CRA
The Community Reinvestment Act: Outstanding, and Needs to Improve
The CRA within a Changing Financial Landscape
The 30th Anniversary of the CRA: Restructuring the CRA to Address the Mortgage Finance Revolution
The Community Reinvestment Act and the Recent Mortgage Crisis