FIGHTING "REDLINING" - RESEARCHING BANK COMPLIANCE
In 1978 Congress adopted two laws to require lenders to "meet the credit needs" of low income neighborhoods. Up until that time many poor communities had been purposefully "redlined" by certain lenders who considered making loans in such locations to be risky and unworthy.
The two laws were the Community Reinvestment Act (CRA) and the Home Mortgage Disclosure Act(HMDA). Advocates working to encourage bank compliance with CRA have used HMDA to get data on how particular banks were performing in low income neighborhoods. The latest newsletter from the Office of the Comptroller ofthe Currency (OCC) has an article entitled "Using the New HMDA Data to Expand Home Mortgage Lending Opportunities". You can view it at:
skip to main |
skip to sidebar
community assets - serving non-profits and local governments since 1999
ShareThis
WELCOME
community assets - serving non-profits and local governments since 1999
LINKS
Blog Archive
NEWS YOU CAN USE
Grant Wrangler Featured Grants
AEO FEED
Labels
- art and economic development (1)
- cash incentives (1)
- ceditslips.org (1)
- City of Tallahassee (1)
- community development (1)
- community organizing (1)
- consumer debt (1)
- Creative Class (1)
- debt resistors (1)
- empowerment for women (1)
- Ernesto Sirolli (1)
- Federal Trade Commission (1)
- food banks (1)
- healthy start (1)
- housing (1)
- hunger (1)
- infant mortality (1)
- Joy Jinks (1)
- pay day loans (1)
- Peter Kageyama (1)
- poverty (1)
- Predatory lending (1)
- Richard Florida (1)
- Strike Debt (1)
- subprime (1)
- TED Talks (1)
- To the Village Square (1)
- Walmart (1)
- wealth (1)
No comments:
Post a Comment