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New Community Reinvestment Act regulation : what have been the effects?

Author

Listed:
  • Terri Johnsen
  • Forest Myers

Abstract

Effective January 1, 1996, the federal financial supervisory agencies (agencies) implemented their new Community Reinvestment Act (CRA) regulations. The new regulations currently apply to small institutions; they will apply to large institutions in 1997. ; In adopting their new regulations, the agencies sought to address complaints voiced by banks and the public about burden, relevancy, and consistency of CRA regulation under the agencies' old supervisory approach. To judge the new regulation's success in addressing these complaints, we surveyed 38 small Tenth District member banks examined during the first half of 1996. We found that for the most part the agencies accomplished what they set out to do. However, final judgement on the agencies' ultimate success in addressing earlier complaints with CRA regulation must wait until experience is gained with large banks in 1997.

Suggested Citation

  • Terri Johnsen & Forest Myers, 1996. "New Community Reinvestment Act regulation : what have been the effects?," Financial Industry Perspectives, Federal Reserve Bank of Kansas City, issue Dec, pages 1-11.
    • Handle: RePEc:fip:fedkfi:y:1996:i:dec:p:1-11
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    File URL: http://www.kansascityfed.org/PUBLICAT/FIP/prs96-1.pdf
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    Cited by:

    1. Ling, David C. & Wachter, Susan M., 1998. "Information Externalities and Home Mortgage Underwriting," Journal of Urban Economics, Elsevier, vol. 44(3), pages 317-332, November.
    2. Robert L. Hetzel, 2009. "Should increased regulation of bank risk-taking come from regulators or from the market?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 95(Spr), pages 161-200.

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    Keywords

    Community Reinvestment Act of 1977;

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