Community
Reinvestment Act (CRA)
The Community Reinvestment Act is intended to encourage
depository institutions to help meet the credit needs
of the communities in which they operate, including
low- and moderate-income neighborhoods, consistent with
safe and sound banking operations. It was enacted by
the Congress in 1977 (12 U.S.C. 2901) and is implemented
by Regulations 12 CFR parts 25, 228, 345, and 563e.
The Regulation was revised in May 1995.
Home Mortgage Disclosure
Act (HMDA) Data for New England
The Home Mortgage Disclosure Act was enacted by Congress
in 1975 and is implemented by the Federal Reserve
Board's Regulation C. This regulation provides the
public with loan data that can be used to assist:
in determining whether financial institutions are
serving the housing needs of their communities; public
officials in distributing public-sector investments
so as to attract private investment to areas where
it is needed; and in identifying possible discriminatory
lending patterns. This regulation applies to certain
financial institutions, including banks, savings associations,
credit unions, and other mortgage lending institutions.
Community
Affairs in the Federal Reserve System
Consumer & Economic Development Research & Information Center (CEDRIC)
LesLe - Lessons Learned: Community & Economic Development Case Studies