Violating Your Way to an Outstanding CRA Rating
Federal laws that were supposed to help bank regulators overcome racial discrimination didn't work, Cal Bradford shows in this article
Read our comments on Federal CRA reform proposal
The FDIC released proposed rules for an interagency Community Reinvestment Act reform process today. The long-awaited proposal represents the most recent of many stalled efforts to update this anti-redlining law.
Comment Letter: Americans for Financial Reform Comment on CRA Reform
Woodstock Institute signed on to Americans for Financial Reform’s comment letter to the OCC, FDIC, and Federal Reserve Board of Governors regarding their Notice of Proposed Rulemaking on the Community Reinvestment Act. The letter emphasizes the importance of CRA’s...
Comment Letter: Downgrade TAB Bank’s CRA Exam Rating
Woodstock Institute joined a coalition letter led by the National Community Reinvestment Coalition (NCRC) urging the FDIC to downgrade the Community Reinvestment Act (CRA) exam rating for TAB Bank. TAB Bank, based in Utah and regulated by the FDIC,...
Comment Letter: Illinois CRA Coalition Comment on Illinois CRA Rulemaking
Woodstock Institute co-leads the Illinois Community Reinvestment Act Coalition with Housing Action Illinois. The coalition submitted a letter with 32 organizations signed on to comment on the Illinois Department of Financial and Professional Regulation’s (IDFPR) Advance Notice of Proposed...
Fact Book Data Sources: HMDA & CRA
Two federal laws, the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA), passed in the 1970s after a national grassroots advocacy campaign that uncovered examples of redlining – refusal to loan in a community due to bankers’...
Comment Letter: Rescinding 2020 OCC CRA Rule
Woodstock Institute signed on to a letter led by the National Community Reinvestment Coalition (NCRC) supporting the Office of the Comptroller of the Currency’s (OCC) harmful 2020 Community Reinvestment Act (CRA) rule. NCRC, Woodstock, and other advocates support an...
Testimony of Horacio Mendez at Illinois Community Reinvestment Act rulemaking hearing
Illinois has a historic opportunity to ensure state banks, state credit unions, and mortgage companies invest mortgage capital equitably. The ability for the State of IL to hold all lenders accountable for the impact they have on the residents...
CRA Mortgages: A Failure to Implement
CRA reform efforts must address the fact that federal regulators have rated 95% of banks Satisfactory or better even though data show fewer regulated lenders meeting the law's goals.
NextCity: Illinois Will Now Grade Credit Unions and Mortgage Companies on Their Commitment to Fair Lending
… The speed at which the package passed surprised even community development and fair housing groups. “There was really a demand, on all levels of government, local state and federal elected officials representing Illinois, wanting to do something to...