The Community Reinvestment Act (CRA) is a federal law that obligates banks to serve the credit needs of low-and-moderate income communities and to provide equal access to responsible financial products and services to traditionally underserved populations. Through the Home Mortgage Disclosure Act data and other data sources, NCRC has monitored banks responsiveness to CRA and has empowered communities, through organizing, to respond when banks fall short on their CRA exams or when there is a merger or acquisition. Through organizing, communities have an opportunity to advocate for increased responsiveness to underserved communities and work with banks to establish goals and objectives to increase access to capital, mortgage lending, community development investments; improve workforce development; and fund supportive services necessary to stabilize communities. NCRC staff and board members will provide an overview of how organizing efforts led to community benefit agreements that totaled over $62 billion in various markets across the country as well as an example of how Dayton, Ohio has organized to advocate for a local agreement.
Vehicles for Investment: Sponsored by Woodforest National Bank