Public Law 95-128, Title VIII
E82698
Public Law 95-128, Title VIII is the federal statute that established the Community Reinvestment Act, requiring banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
banking regulation → financial law → |
| addresses |
disinvestment in urban neighborhoods
→
geographic disparities in credit availability → |
| aimsTo |
combat redlining
→
increase availability of credit in underserved areas → |
| alsoKnownAs |
CRA statute
→
|
| appliesTo |
federally regulated banks
→
federally regulated savings associations → insured depository institutions → |
| bindingOn |
federally insured banks
→
federally insured savings associations → |
| country |
United States of America
→
|
| enacts |
Community Reinvestment Act
→
|
| enforcedThrough |
CRA examinations
→
consideration of CRA performance in merger and expansion applications → |
| establishes |
obligation for banks to serve entire communities, including low- and moderate-income areas
→
|
| focusesOn |
community credit needs
→
low-income neighborhoods → moderate-income neighborhoods → |
| implementedBy |
Federal Deposit Insurance Corporation
→
Federal Reserve Board → Office of Thrift Supervision → Office of the Comptroller of the Currency → federal banking regulators → |
| jurisdiction |
United States
→
|
| legalForm |
public law
→
|
| partOf |
Public Law 95-128
→
|
| policyGoal |
encourage safe and sound lending in all segments of a bank’s community
→
support credit access for low- and moderate-income borrowers → |
| purpose |
to discourage discriminatory credit practices
→
to encourage banks to help meet the credit needs of the communities in which they operate → to promote access to credit in low- and moderate-income neighborhoods → |
| regulates |
community reinvestment activities of banks
→
|
| requires |
consideration of a bank’s community reinvestment record when evaluating applications for deposit facilities
→
federal financial supervisory agencies to assess the record of each bank in meeting community credit needs → maintenance of a public CRA file by covered institutions → public evaluation of banks’ community reinvestment performance → |
| sector |
banking
→
housing finance → |
| shortTitle |
Community Reinvestment Act
→
|
| subjectMatter |
bank regulatory supervision
→
community reinvestment → fair access to credit → |
| typeOfRegulation |
conduct regulation for depository institutions
→
|
Referenced by (1)
| Subject (surface form when different) | Predicate |
|---|---|
|
Community Reinvestment Act
→
|
publicLawNumber |