The spread of COVID-19 and the many efforts to slow it are impacting communities throughout the nation. To best respond to this crisis, information is needed about the scope and scale of challenges in various communities. This report offers findings of a survey designed to collect information on the effects of COVID-19 on low- to moderate-income people and communities and the entities serving them. The survey was fielded by eight national partners and the Federal Reserve System's community development function.
"In our 35 years extending credit to Native communities, not once has a bank invested in our work. Instead, we’ve relied on CDFI Fund grants, foundations, and philanthropic investors," says Tawney Brunsch, executive director of Native CDFI Lakota Funds.
Could CRA modernization drive more inclusive community development for individuals with disabilities, especially those at the intersection of race or ethnicity?
In what ways is the Community Reinvestment Act a tool that helps lenders chart a different future for low-and moderate-income neighborhoods? Here are four examples.
The pandemic has underscored how many aspects of modern life rely on high-speed internet, and how stark the difference in broadband access is for some Americans, both in rural areas and big cities.
When Beth Drum heard that families in her area needed computers for remote work and school, she enlisted her employer's help to get 400 refurbished laptops to their community. Here's how she did it.
In the 40+ years since the CRA was enacted in 1977, the way banking is conducted has changed. It's just one reason the Fed is looking to update the regulation we use to evaluate banks under the law.
Congress enacted the Community Reinvestment Act in 1977, requiring banks to reinvest in the communities in which they operate. Here's why the law was needed and why it's still relevant today.
Throughout 2020, the Federal Reserve surveyed nonprofits, financial institutions, government agencies, and other community organizations to understand the effects of COVID-19 on low- to moderate-income communities and the entities serving them. Here's what they found.