Explainer Episode 8 – The Community Reinvestment Act
Passed in 1977, the Community Reinvestment Act (CRA) was intended to encourage banks and other financial institutions to lend to lower-income individuals in their communities. Has the CRA succeeded in this goal or is there room for improvement? Aaron Klein and Diego Zuluaga weigh in on this important question.
- “The Community Reinvestment Act in the Age of Fintech and Bank Competition”
- “Bank-like credit unions should follow bank rules”
- “A tool meant to help minorities buy homes is instead speeding up gentrification in D.C.”