Explainer Episode 8 – The Community Reinvestment Act

Passed in 1977, the Community Reinvestment Act (CRA) was intended to encourage banks and other financial institutions to lend to lower-income individuals in their communities. Has the CRA succeeded in this goal or is there room for improvement? Aaron Klein and Diego Zuluaga weigh in on this important question.

Additional Resources:

• “The Community Reinvestment Act in the Age of Fintech and Bank Competition”
• “Bank-like credit unions should follow bank rules”
• “A tool meant to help minorities buy homes is instead speeding up gentrification in D.C.”