July 30th, 2019

The Community Reinvestment Act Explained In Simple Terms

The Community Reinvestment Act Explained In Simple Terms

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The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discriminatory lending practices that inhibited low-income communities and neighborhoods.