May 6, 2022

By: Donna Kimura, Affordable Housing Finance

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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.