Banks have reduced lending and are not responding to the needs of communities. America faces an economic crisis and widening wealth disparities.
There is a new bill in Congress—The American Community Investment Reform Act (HR 6334)—that will address economic issues facing our communities, help us build prosperity and finish the work of financial reform by strengthening the Community Reinvestment Act (CRA).
CRA has helped low- and moderate-income communities and communities of color build wealth. This landmark piece of legislation has ensured over $6 trillion worth of bank investments, lending and commitments in low- and moderate-income communities over the past 33 years.
CRA needs to be stronger. HR 6334 will promote job creation and affordable housing needed for prosperous communities. We must push for a stronger CRA—one that funnels more investment into our communities and truly regulates the players in today’s financial markets.
The American Community Investment Reform Act (HR 6334) will:
• Apply CRA beyond banks to mortgage companies, investment banks, hedge funds and other companies owned by banks;
• Strengthen CRA examinations to assess projects that create necessary housing and jobs in our communities;
• Impose higher standards for banks and other financial institutions in CRA examinations.
Join NCRC in our push for this important legislation. Talk to your congressperson about HR 6334. To receive the latest campaign news, email Ian Keller at
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and ask to join our Jobs and Capital for Communities listserv Visit www.expandcra.org to access the tools and resources to push for a stronger Community Reinvestment Act.
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