";s:4:"text";s:2169:"1. and to encourage banks and savings associations (collectively, banks) to help meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods and individuals. The Community Reinvestment Act (CRA) is a federal law enacted in 1977 to encourage depository institutions to meet the credit needs of low- and moderate-income neighborhoods. 2901) and implemented by Regulations 12 CFR parts 25, 228, 345, and 195, is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate. (CRA does not encourage the extension of unsafe or unsound credit.) Community Reinvestment Act (CRA) Guidance & Policy. As Rick Cohen noted in NPQ in 2008, when the Community Reinvestment Action (CRA) was also under attack, “It is worth remembering that the enactment of the Community Reinvestment Act (and its data-gathering legislative companion, the Home Mortgage Disclosure Act) is one of the nonprofit sector’s biggest advocacy triumphs.”
Preamble to the Regulation; FDIC's Rules and Regulations, Part 345; FFIEC CRA Q&A's - PDF (July 2016) Joint Final Rule (2005) Community Reinvestment Act (CRA) Interagency Joint Public Hearings; CRA Sunshine Requirements; Strategic Plan Guidelines; Approved Limited Purpose, Strategic Plan, and Wholesale Institutions; Related FDIC … Community Reinvestment Act . The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods. The Community Reinvestment Act (CRA) is a law intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income (LMI) neighborhoods, consistent with safe and sound banking operations. The Community Reinvestment Act (CRA) was enacted in 1977 to prevent redlining.