The Community Reinvestment Act (CRA) is an important law that helps bring billions of dollars in bank capital to low-and- moderate income communities every year. Understanding how this law works is essential for banks looking to make impactful loans and investments, nonprofits seeking funding, and communities that want to ensure their financial institutions are operating in fair and responsive ways. The Federal Reserve System has created a short, seven-minute video, An Introduction to CRA, highlighting the purpose, application and importance of the CRA. View the video at FedCommunities.org.
This webinar series from the Community Development department at the St. Louis Fed allows community development professionals from across the Eighth Federal Reserve District to connect with industry experts to hear and discuss current developments and initiatives. Topics vary and are of interest to economic development professionals, financial institution representatives, community advocates and policymakers. Recent sessions include:
Both the audio and the presentations for all sessions are archived at https://bsr.stlouisfed.org//EI_CDAudioConference/.
8 From the Eighth is a podcast series from the Community Development department at the St. Louis Fed. Through interviews with experts (consisting of eight questions), listeners learn about current community development challenges—and successes—in the Eighth District, helping them to understand both the problems and the solutions. Podcasts cover a variety of topics, including innovative strategies and emerging trends related to community development. The audio for all sessions is archived at www.stlouisfed.org/community-development/multimedia/audio.
The St. Louis Fed’s Housing Market Conditions report provides a snapshot of conditions in the U.S. and in the Eighth District states and MSAs. View the most recent report, as well as archives of previous reports, at www.stlouisfed.org/community_development/HMC.
In June, the Center on Children and Families at the Brookings Institution hosted a discussion with Raj Chetty, who presented his latest research. View video of this event at www.brookings.edu/events/2015/06/01-place-and-opportunity-social-mobility-reeves.
In August, HUD Secretary Julian Castro discussed Congress’ proposal to cut the HOME program. View the webinar presentation at https://salsa3.salsalabs.com/o/50954/images/Presentation_
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Fed in Print: An index of the economic research conducted by the Fed.