May 6, 2022
By: Donna Kimura, Affordable Housing Finance
Federal bank regulators have issued a joint proposal to update the Community Reinvestment Act (CRA), a key driver of investments in affordable housing.
Enacted in 1977, the CRA calls on banks to help meet the credit needs of the communities where they do business, with a focus on low- and moderate-income communities. Its last major revision was in 1995.