Community Reinvestment Act
- Community Reinvestment Act
Community Reinvestment Act ( CRA)
A federal statute enacted to require banks and savings and loan associations to meet the credit needs of their communities, including low- and moderate-income neighborhoods. American Banker Glossary
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Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. Bloomberg Financial Dictionary
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Community Reinvestment Act Comˌmunity Reinˈvestment Act noun
LAW in the US, a law saying that banks must encourage investment in local areas, for example by lending money to people living in poor areas or who are on low incomes
Financial and business terms.
2012.
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