Community Reinvestment Act in Podcasts
conceptThe Community Reinvestment Act is a U.S. federal law encouraging banks to help meet the credit needs of all segments of their communities, including low-income areas.
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It's actually, it's not unstructured and there's no scraping.
But banks will often look to do about 1% to 2% of their Tier 1 capital in community investments to meet their CRA requirements.
The act does not stipulate an exact percentage.
And this act, how is it measured?
They'll get a report of all their activities and they'll get credit from the examiners for qualified activities.
So, uh, banks are audited every two to three years under the, under the act, under the regulations, uh,
The act is also designed to give credit to banks that provide donations and investments to organizations in the community that are helping
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