We need to ensure real financial inclusion for all communities in the federal CRA.
The Community Reinvestment Act (CRA), passed in 1977 in response to redlining, creates a continuing and affirmative responsibility for banks to make loans and investments in the communities where they do business, including low- and moderate-income communities, communities of color, and rural areas.
The Federal Deposit Insurance Corp., Federal Reserve Board, and the Office of the Comptroller of the Currency are updating the rules that implement the legislation, the first joint update in almost 30 years.
Please have your organization sign on to the Illinois CRA Coalition’s recommendations for shaping and implementing these rules and making the federal CRA into a more effective tool to increase financial inclusion for all communities. Click here to read the letter.
We’ll be accepting organization signatures until 12:00 p.m. CT on Thursday, August 4, 2022.
About IL CRA Coalition
The Illinois CRA Coalition is a group of organizations dedicated to protecting and strengthening the federal and the Illinois Community Reinvestment Acts as tools for building more equitable communities and addressing the racial wealth gap.