August 2, 2018 Lysa Davis was asked to lead the discussion on the incorporation of the Community Reinvestment Act regulation as part of the strategy State Bar Foundations across the country could use in their approach to building new banking relationships while managing existing ones.
Lysa Davis is a former CRA Officer and Bank Executive that now has her own consulting company and nonprofit organization helping community partners and key stakeholders understand the Community Reinvestment Act (CRA) regulation. Her work has led her to work with various nonprofit organization like the Michigan State Bar Foundation (MSBF), City and County Governments and other community centered organizations. The Community Reinvestment Act was enacted in 1977 to encourage banks to help meet the credit needs of consumers in the communities they serve, including low-to-moderate income individuals and geographies with safe and sound banking practices.
Lysa encourages all key stakeholders to learn as much as they can about the CRA regulation so that they can fully understand how to partner effectively with financial institutions in their communities building strong relationships to support their work in the community.
State Bar Foundations across the country are creating Leadership Bank Program to increase support from banks that participate in the Interest of Lawyers’ Trust Accounts (IOLTA) Program. The increase in support will allow additional funding to Civil legal aid organizations across the country that provide low income families each year with critical legal issues to reduce poverty and stabilize communities. This is a great way for financial institutions to create a stronger relationship with legal aid organizations in their communities and also provide community development services to families in need.