Community Reinvestment

The Community Reinvestment Act (CRA) – as implemented by Regulation BB – was enacted in 1977 to ensure that banks meet the credit needs of the communities in which they serve.  The CRA encourages the bank to investigate the credit needs of the community and make every reasonable effort to extend credit to all qualified borrowers, including low- and moderate-income applicants.  In addition, the Community Reinvestment Act:

  • Provides regulations and guidance regarding the methods by which CRA performance will be measured;
  • Requires that the bank delineate its assessment area(s); and
  • Requires that the bank maintain a public file with relevant CRA information