WebNov 18, 2015 · The Community Reinvestment Act of 1977 is defined as a "United States federal law designed to encourage commercial banks and savings associations to help meet the needs of the borrowers in all segments of their communities, including low and moderate-income neighborhoods."
FDIC: PR-39-2024 5/5/2024 - Federal Deposit Insurance Corporation
WebA. Informing the examiner that the bank does not plan to acquire or merge with another bank, so CRA is not a priority. B. Giving the examiner an updated CRA public file. C. Showing the examiner a list of community groups with which the bank has met in the past 24 months to discuss credit needs. WebMar 20, 2024 · The economic and racial segregation created by “redlining” persists in many cities Redlining buttressed the segregated structure of American cities. Most of the neighborhoods (74%) that the HOLC graded as high-risk or “Hazardous” eight decades ago are low-to-moderate income (LMI) today. steering wheel spinner knob for truck
Community Reinvestment Act (CRA) OCC
WebNov 10, 2024 · This presentation provides an overview of the Community Reinvestment Act (CRA), and is designed to provide bank directors with foundational knowledge regarding CRA. Topics include the purpose of CRA, different CRA evaluation types, how to comply, and practical ideas to assist banks in helping to meet the credit needs of their assessment … WebFeb 23, 2024 · The Community Reinvestment Act encourages bank lending to low- and moderate-income neighborhoods. Enacted in 1977, it sought to eliminate bank “redlining” of poor neighborhoods. That had contributed to the growth of ghettos in the 1970s. In redlining, neighborhoods were designated as not good for investment. WebLoans, investments and services that: -support activities that are for eligible uses under the Housing and Economic Recovery Act. -Support activities under the Neighborhood Stabilization Program. -must be provided no later than 2 years after the last date funds appropriated for the NSP are required to be spent. pink shaggy car seat covers