February 6, 2009 | Federal Reserve Bank of Cleveland
The Community Reinvestment Act has come under increasing scrutiny as a result of the nation’s subprime lending and foreclosure crises. What role, if any, did the landmark legislation play in the demise of the nation’s financial services industry? How should policymakers modify the CRA to ensure it meets the credit needs of low- and moderate-income individuals going forward?
This one-day conference includes presentations and discussions on the CRA that are aimed at facilitating an exchange of research-informed perspectives on the role of the Community Reinvestment Act in delivering financial services to individuals in low- and moderate-income communities. The conference is part of the Cleveland Fed’s ongoing efforts to facilitate and help inform high-level discussions on proposed regulatory reform—in this instance, the regulation of financial services available to low- and moderate-income individuals.