Promoting Mortgage Access in Underperforming Neighborhoods: The Community Reinvestment Act and Beyond
In many communities, access to mortgage credit is essential for revitalizing underperforming neighborhoods and promoting economic development. The Community Reinvestment Act (CRA) and similar laws are designed to encourage financial institutions to lend to individuals and businesses in low- and moderate-income areas. In this chapter, we’ll delve into the objectives, mechanisms, and impacts of these […]