INFORMATIVE RESEARCH OFFERS INSIGHT ON THE FUTURE OF COMMUNITY DEVELOPMENT FROM A CRA PERSPECTIVE AND HOW BANKS AND COMMUNITY ORGANIZATIONS CAN WORK TOGETHER TO MEET A COMMON GOAL
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COMMUNITY DEVELOPMENT THROUGH THE LENSE OF CRA
February 2019, Community-Up hosted a CRA Listening Session. A select group of Financial Institutions and Community Stakeholders were invited to participate in a focus group meeting that lasted a little over 1.5 hours. The FDIC, OCC and Federal Reserve (Interagency) attended to collect data.
COMMUNITY DEVELOPMENT THROUGH THE LENSE OF CRA
Lysa Davis, President and Founder of Community-Up hosted the listening session and recorded the data. The focus group took a deep dive into how Community Development is impacted through the Community Reinvestment Act (CRA) regulation.
The objective was:
To learn how community stakeholders viewed the requirements and restrictions of the CRA regulation
To learn how Financial Institutions believed community organizations could help collaborate with banks to meet the requirements of the CRA.
Community stakeholders discussed their misconceptions and offered suggestions on how financial institutions could make improvements in the three components of the CRA regulation (Lending Service and Investment). Financial Institutions talked about CRA Dollars, and the misnomer that banks only participate in Community Development Initiatives because they are required to.
This is a very robust report compiled of honest, detailed information providing a broader scope of Community Development. The opinions expressed in this report will remain confidential. If you would like to receive a copy of this report or download a copy, please click below.