Community Reinvestment Act
Coverage of Community Reinvestment Act in the Nexus archive.
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
The Trump Administration proposes revising the Community Reinvestment Act (CRA) to reduce the number of banks required to comply, adjust asset thresholds for small and intermediate banks, and limit how banks allocate funds to community development groups. The changes aim to prioritize local lending over branch expansion and deposits but face criticism for potentially discouraging grants to national organizations and rural communities.
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
The Trump Administration has announced proposed changes to the Community Reinvestment Act, a law requiring regulators to document banks' lending performance in low-to-middle income neighborhoods.
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
The Trump Administration proposes overhauling the Community Reinvestment Act (CRA) to reduce the number of banks required to comply, redefining small banks to exclude those with under $1 billion in assets. The changes prioritize lending in specific communities over branch or deposit metrics and restrict donations to community groups, potentially impacting organizations like the National Community Reinvestment Coalition.
- Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
The Trump Administration proposes changes to the Community Reinvestment Act (CRA), reducing the number of banks required to comply and adjusting how community grants are evaluated. The new rules would increase the asset threshold for small banks and prioritize local over national grant recipients, potentially impacting organizations like the National Community Reinvestment Coalition.
- JPMorgan Chase plans to expand Community Center program, doubling branches in low-income areas
JPMorgan Chase plans to expand its Community Center program by doubling the number of branches in low-income areas and hiring 150 additional community managers. These centers provide free financial education workshops and aim to reach 5 million attendees, aligning with the bank's compliance with the Community Reinvestment Act and its goal of increasing access to banking services.