Author: Pogge, Jean
Summary
This report discussed how in the 1980s, the deregulation of the banking industry has resulted in a new surge of reinvestment activity among community organizations nationwide, including landmark agreements between community organizations and financial institutions; it has produced banking legislation in almost every state, as state legislatures respond to demands to approve interstate banking, yet to protect their states from capital outflow; and it has brought a new competitive spirit to the financial institutions themselves, many of which are seeking new and expanded markets for their products and services. To take advantage of the new opportunities, and to ensure that each neighborhood receives enough credit to maintain a healthy economy, it is important that residents, community-based organizations, community development organizations, local and state policymakers and lenders actively monitor and manage reinvestment activity. The Community Lending Profiles are designed to make the information reported under HMDA readily available for this purpose. They provide detailed information on the individual performance of banks and savings and loan associations in each census tract in the Pittsburgh metropolitan area.
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