RECOMMENDATIONS ON THE COMMUNITY REINVESTMENT ACT
TO EXPAND REACH AND IMPACT
On Friday, September 29, Federation President/CEO Cathie Mahon and CU Breakthrough Senior Consultant Terry Ratigan joined the Opportunity Finance Network’s Lisa Mensah and Jennifer Vasiloff to brief the Treasury Department on the Community Reinvestment Act (CRA), focusing on the impact that CRA has had on the communities we serve and the critical role it has played in directing capital to low-income and under-served communities. As the Treasury Department is looking at ways to update and improve the effectiveness and efficiency of CRA, the Federation provided concrete ways that CRA could be expanded and enhanced to extend capital to more communities that need it, and to leverage that capital for greater impact through CDFI investments, loans and financial services. Over the past month, Treasury officials have met with hundreds of representatives from industry, policy think-tanks and advocates in its review of the CRA.
Read our full recommendation below, or click here to download as a PDF.