Community Reinvestment Act Of 1977 (CRA): Community reinvestment refers to the responsibility of financial institutions to help meet their communities needs for low- and moderate-income housing. In 1977, Congress passed the Community Reinvestment Act of 1977 (CRA). Under the CRA, financial institutions are expected to meet the deposit and credit needs of their communities, participate and invest in local community development and rehabilitation projects, and participate in loan programs for housing, small businesses and small farms.

 

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Community Reinvestment Act Of 1977 (CRA): Community reinvestment refers to the responsibility of financial institutions to help meet their communities needs for low- and moderate-income housing. In 1977, Congress passed the Communit . . . View Full Definition

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