The Community Reinvestment Act (CRA, Pub.L. 95–128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.
In 2014, Sunrise received an “Outstanding” rating on our Community Reinvestment Act (CRA) regulator examination, demonstrating our dedication to meeting the credit needs of our entire community, including low-and-moderate-income neighborhoods.
http://teapartymainstreet.blogspot.com/ Who is responsible for this mortgage/financial train wreck in 2008? In 1977, Former President Jimmy Carter created the Community Reinvestment Act (CRA), In 1992, the regulator of Fannie Mae was critically weakened by the actions of Congressional Representative Barney Frank, In 1995, President Clinton's administration revised Community Reinvestment Act (CRA) regulation. Barrack Obama Is Just Carrying On The Destructive Ambitions .
Gale Cincotta (December 28, 1929 – August 15, 2001), a community activist from the Austin neighborhood of Chicago, led the national fight for the US federal Home Mortgage Disclosure Act (HMDA) of 1975 and the Community Reinvestment Act (CRA) of 1977. The CRA requires banks and savings and loans to offer credit throughout their entire market areas and prohibits them from targeting only wealthier neighborhoods with their lending and services, a practice known as redlining.