Revisiting the Community Reinvestment Act
The Federal Reserve banks of Boston and San Francisco have announced the release of a new publication on the Community Reinvestment Act.
Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act offers facts and opinions on the past and future of CRA. The publication is intended to foster a healthy debate on the CRA and possible reforms. Authors include academic researchers, current and former regulators, community development practitioners, and financial services representatives.
In conjunction with the publication's release, the Federal Reserve recently convened a CRA discussion in Washington, D.C. Participants offered their views on how best to update the CRA in light of more than 30 years of changes in the financial services industry. A highlight of the discussion was a speech by Federal Reserve Governor Elizabeth Duke who spoke extensively about the future of CRA and its effectiveness. To read her speech, go to www.federalreserve.gov/newsevents/speech/duke20090224a.htm.
Revisiting the CRA is available for download from both the Boston and San Francisco web sites:
Boston web link: www.bos.frb.org/commdev/cra/index.htm
San Francisco web link: www.frbsf.org/community-development/initiatives/community-reinvestment-act/