Prohibition of Redlining
September 1, 2011
Banks are said to be sitting on $$$mega millions and will not invest in you and I to grow our nation. These are the folk that came begging after massive wrongdoing.
Would you check to see if your bank is:
-- one of the ones that received the "bailout" from the People.
-- if your bank is fulfilling its CRA/Community Reinvestment Act obligations. We wish to compile a "data" sheet. Below is what they should be doing - According to the Office of Comptroller for the Currency(USA).
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Community Reinvestment Act (CRA)
The Community Reinvestment Act of 1977 (CRA) provides a framework for financial institutions, state and local governments, and community organizations to jointly promote banking services to all members of a community. In a nutshell, the CRA
• Prohibits redlining (denying or increasing the cost of banking to residents of racially defined neighborhoods), and
• Encourages efforts to meet the credit needs of all community members, including residents of low- and moderate-income neighborhoods
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Comments sent to: mpapublicpolicyreview@gmail.com.
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