Community Development Innovation Review

July 2009

Community Reinvestment Emerging from the Housing Crisis


The Community Reinvestment Act (CRA) has helped to revitalize low- and moderate-income (LMI) communities and provided expanded opportunities for LMI households. Going forward, the CRA could be strengthened in several ways to ensure its continued role in encouraging sound lending, investment, and services in LMI communities. At the same time, the CRA cannot be expected to resolve the range of financial problems facing LMI communities today. We need to clean up the mortgage business, drive out abuses, and develop a system of consumer protection, prudential supervision, capital requirements, and transparency that restores trust and confidence in our financial system.

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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

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

CRA 2.0: Communities 2.0

What Lessons Does the CRA Offer the Insurance Industry?

Expanding the CRA to All Financial Institutions

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