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Leveraging opportunities to promote community reinvestment

Author

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  • Desiree Hatcher

Abstract

The Community Reinvestment Act (CRA) 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 operations. The CRA performance impacts banks and the communities they serve. CRA requirements are embedded in the chartering of financial institutions; and CRA performance ratings are considered in the approval, denial, or conditioning of applications for such activities as branching, consolidation, or acquisitions. Therefore, CRA provides a powerful incentive for lenders to invest in distressed neighborhoods.

Suggested Citation

  • Desiree Hatcher, 2011. "Leveraging opportunities to promote community reinvestment," Profitwise, Federal Reserve Bank of Chicago, issue Sep, pages 7-13.
    • Handle: RePEc:fip:fedhpw:y:2011:i:sep:p:7-13
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    File URL: http://www.chicagofed.org/digital_assets/publications/profitwise_news_and_views/2011/PNV_Sep2011_ReEd_FINAL_web.pdf
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