Making Communities Stronger through the Community Reinvestment Act

Making Communities Stronger through the Community Reinvestment Act

This bill revises the Community Reinvestment Act, which addresses the availability of credit in communities. Under the act, financial regulators examine a banking institution's community activities such as lending, investments, and services, particularly for low- and moderate-income populations.

Specifically, the bill sets forth examination requirements regarding an institution's

• illegal or discriminatory activity,
• partnerships with non-depository lenders,
• home mortgage lending targeted to low- and moderate-income borrowers, and
• community service or charity work.

Each institution must establish Community Advisory Committees in areas served by the institution.