Search Results
Speech
Welcoming remarks: Camden Promise Zone Initiative meeting
President Patrick T. Harker provides opening remarks at the Community Reinvestment Act and the White House Promise Zone Initiative: Camden Promise Zone Initiative meeting, organized by the Philadelphia Fed?s Community Development Studies & Education Department, the FDIC, the City of Camden, the Camden Redevelopment Agency, and the U.S. Department of Housing and Urban Development. He discusses how locally developed plans can leverage private-sector investments to promote economic growth.
Fed Releases Proposal for CRA Reform, Seeks Comments
The Fed and the OCC have both issued proposals for reforming CRA regulations. How do they differ?
Working Paper
Effects of the Community Reinvestment Act (CRA) on Small Business Lending
This study provides new evidence on the effectiveness of the Community Reinvestment Act (CRA) on small business lending by focusing on a sample of neighborhoods with changed CRA eligibility status across the country because of an exogenous policy shock in 2013. The results of difference-in-differences analysis provide consistent evidence that the CRA promotes small business lending, especially in terms of number of loan originations, in lower-income neighborhoods. The generally positive effects of the CRA are sensitive to the types of CRA treatment. Losing CRA eligibility status has a ...
Discussion Paper
Effects of the Community Reinvestment Act (CRA) on Small Business Lending
This study provides new evidence on the effectiveness of the Community Reinvestment Act (CRA) on small business lending by focusing on a sample of neighborhoods with changed CRA eligibility status across the country because of an exogenous policy shock in 2013. The results of difference-in-differences analysis provide consistent evidence that the CRA promotes small business lending, especially in terms of number of loan originations, in lower-income neighborhoods. The generally positive effects of the CRA are sensitive to the types of CRA treatment. Losing CRA eligibility status has a ...
Banking Agencies Seek Public Comment on CRA Proposal
Federal regulators are proposing changes to regulations for the Community Reinvestment Act, nearly 20 years since the last major overhaul of its rules.
Discussion Paper
The Community Reinvestment Act (CRA) and Bank Branching Patterns
This paper examines the relationship between the Community Reinvestment Act (CRA) and bank branching patterns, measured by the risk of branch closure and the net loss of branches at the neighborhood level, in the aftermath of Great Recession. Between 2009 and 2017, there was a larger decline in the number of bank branches in lower-income neighborhoods than in more affluent ones, raising concerns about access to mainstream financial services. However, once we control for supply and demand factors that influence bank branching decisions, we find generally consistent evidence that the CRA is ...
Working Paper
"Revitalize or Stabilize": Does Community Development Financing Work?
Banks in the United States originate $100 billion in community development loans every year and hold a similar amount of community development investments on their balance sheets. A number of federal place-based policies encourage the provision of these loans and investments to promote growth, employment and the availability of affordable housing to disadvantaged communities. Research into the effectiveness of privately supplied community development financing has been hampered, however, by the lack of comprehensive data on banks' community development activities at a local level. Hand ...
What Is the Community Reinvestment Act?
Banks have to balance two requirements: Lend to low- and moderate-income neighborhoods, and maintain “safe and sound” banking practices.
Speech
Panel Remarks: Supervisory and Regulatory Action to Support the Economy and Protect Consumers
Panel Remarks at The Fed and Main Street during the Coronavirus Pandemic, WebEx event, April 23, 2020.
Journal Article
Revisiting the Community Reinvestment Act
Regulators are considering changes to how the 1977 law is implemented