Community Development Innovation Review
February 2009
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Past issues
Putting Race Explicitly into the CRA
The Community Reinvestment Act (CRA) was designed to correct market failures thirty years ago. The reimagining of CRA must address the remnants of twentieth-century market and government failures with twenty-first century solutions. Financial institutions and regulators must revisit the intent of the CRA, which states that regulators are “to assess an institution’s record of meeting the credit needs of its entire community [emphasis added], including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.” I proffer that the entire community includes racial and ethnic minorities, and the CRA should be expanded to address directly these underserved parts of the community.
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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
A More Modern CRA for Consumers
CRA Lending During the Subprime Meltdown
Expanding the CRA to All Financial Institutions
What Lessons Does the CRA Offer the Insurance Industry?
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
Community Reinvestment Emerging from the Housing Crisis
A Principle-Based Redesign of HMDA and CRA Data