CRA
E82697
CRA is the commonly used abbreviation for the Community Reinvestment Act, a U.S. law encouraging banks to help meet the credit needs of all communities, including low- and moderate-income neighborhoods.
Aliases (1)
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
→
|
| abbreviation |
CRA
→
|
| addressesIssue |
discriminatory lending
→
redlining → |
| administeredBy |
Federal Deposit Insurance Corporation
→
Federal Reserve Board → Office of the Comptroller of the Currency → |
| affects |
bank acquisition applications
→
bank merger applications → branch opening applications → |
| appliesTo |
FDIC-insured depository institutions
→
banks → savings associations → |
| codifiedIn |
12 U.S.C. §§ 2901–2908
→
|
| country |
United States
→
|
| dateEnacted |
1977-10-12
→
|
| enactedBy |
United States Congress
→
|
| evaluationFocus |
investment
→
lending → services → |
| hasConcept |
CRA rating
→
assessment area → |
| implementedThrough |
CRA regulations of the FDIC
→
CRA regulations of the Federal Reserve Board → CRA regulations of the OCC → |
| jurisdiction |
United States
→
|
| policyArea |
banking regulation
→
community development → fair lending → |
| possibleRating |
Needs to Improve
→
Outstanding → Satisfactory → Substantial Noncompliance → |
| publicLawNumber |
Public Law 95-128
→
|
| purpose |
discourage redlining
→
encourage banks to help meet the credit needs of the communities in which they operate → promote access to credit for low- and moderate-income neighborhoods → |
| relatedTo |
Equal Credit Opportunity Act
→
Fair Housing Act → Home Mortgage Disclosure Act → |
| requires |
federal regulators to assess banks’ records of meeting community credit needs
→
periodic CRA examinations of covered institutions → public CRA performance evaluations → |
| signedBy |
Jimmy Carter
→
|
| standsFor |
Community Reinvestment Act
→
|
| targetGroup |
low-income neighborhoods
→
moderate-income neighborhoods → underserved communities → |
| title |
Community Reinvestment Act of 1977
→
|
| yearEnacted |
1977
→
|
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
Community Reinvestment Act
→
|
abbreviation |
|
Community Reinvestment Act
→
|
shortName |