Why is the Community Reinvestment Act important?

Why is the Community Reinvestment Act important? 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. What was the Community Reinvestment Act and … Continue reading Why is the Community Reinvestment Act important?