Also due tonight – Proposed rule changes to destroy the community and environmental protections of NEPA here.
Action – As with all things Trump, the question is “Who profits?” Deadline today, March 10,11:59 pm EST.
This is a short, but very informative video on why the Community Reinvestment Act is so important.
The Community Reinvestment Act (CRA) of 1977 is an important protection for low-income and minority populations. Congress passed the CRA following the Civil Rights Movement to redress banks’ history of racist redlining. It forced these institutions “to increase bank activity in low- and moderate-income communities where there is significant need for credit, more responsible lending, greater access to banking services, and improvements to critical infrastructure.”
The CRA regulations aren’t working as perfectly as intended. Historically, 98% of banks pass their CRA examinations, while research and reporting continue to show how banks still disproportionately deny borrowers of color access to credit.
However, under the guise of modernization, the administration, through the OCC and the FDIC, have proposed changes that would weaken the CRA and make it even more difficult to enforce the provision of equal service, while redistributing more money and privilege to corporations and the wealthy.
“It’s every bit as bad as we thought, and then some. The proposed changes would weaken the focus of bank activities on low and moderate income (LMI) communities, while increasing the number of assessments banks could fail while still passing CRA requirements.” says Jane Weisberg, senior campaign analyst at the Association for Neighborhood & Housing Development, a coalition of community groups across New York City.”
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(Steven Singer, a veteran National Board-certified teacher, author of 
INDIVISIBLE VENTURA 