Webmay be cited as the ‘Community Reinvestment Act of 1977’.’’ RESPONSIVENESS TO COMMUNITY NEEDS FOR FINANCIAL SERVICES Pub. L. 106–102, title VII, §715, Nov. 12, 1999, 113 Stat. ... wise required under Federal law or regulations thereunder for— (A) a charter for a national bank or Fed-eral savings and loan association; Web12 USC Sec. 2903 TITLE 12 - BANKS AND BANKING CHAPTER 30 - COMMUNITY REINVESTMENT. Sec. 2903. Financial institutions; evaluation. (a) In general In connection with its examination of a financial institution, the appropriate Federal financial supervisory agency shall - (1) assess the institution's record of meeting the credit needs of its entire ...
Changing Rules to Help Bankers and Hurt Poor Neighborhoods
WebApr 10, 2024 · The Forest Service contributed an estimated $5,675,444 in American Recovery and Reinvestment Act (Recovery Act) funding for projects on the Six Rivers National Forest (SRNF) and in Humboldt County ... WebMay 28, 2024 · The reinvestment act was established to prevent redlining — a practice in which banks refused to lend in certain neighborhoods based on race, ethnicity or income — and ensure that less affluent... event sponsorships for nonprofits
Fed proposing revamp of landmark law that aims to prevent ...
WebThe Community Reinvestment Act was passed in 1977 to end discrimination known as redlining. It required banks to meet the credit needs of the communities where they do business. Discrimination in lending is still a problem. LATEST CRA Comments Review, Part 3: What Are Banks And Trade Groups Worried About – Or Embracing? WebMay 5, 2024 · Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, … WebThe Community Reinvestment Act (CRA) was passed by Congress in 1977 to encourage regulated financial institutions to help meet the credit needs of the communities in which they operate, particularly low- and moderate-income (LMI) individuals and areas.1 The CRA requires that financial brother tn420 printer driver download