How the Community Reinvestment Act Became Diluted and Why We Should Take Note

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The Community Reinvestment Act (CRA) was established in 1978 to address years of federally-enabled bank redlining, which isolated communities of color in the credit market — making it nearly impossible to receive mortgages on homes in African American neighborhoods. CRA required banks to reinvest in all communities they serve, an move that would aid historically overlooked communities.

A new article by Mark Pinsky, President and CEO of Opportunity Finance Network, unearths the diminish of CRA’s impact. Pinsky looks to the future on how to best acknowledge CRA’s current limitations, and pave the way for high-impact investments to flourish in disinvested communities — particularly those with large African American and Latino populations.

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