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To grow a bank you must fund loans. To fund a loan, you must have money. To have money in the bank, you must have depositors that provide that money. Before CRA was established, banks were advertising to small businesses and minorities. These people and business owners would then open up checking and savings accounts, and eventually want a small loan or two aswell. When push came to shove, these banks were not lending back to the small business owners or the minorities, for unknown reasons (ECOA also helped push CRA along). CRA entails that you lend back to the community, invest with the community and help rebuild the community with your services too.
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What is promoted by the Community Reinvestment Act?
These laws include the Community Reinvestment Act, which promotes community credit needs.
The American recovery and reinvestment act provided support bye?
The American recovery and reinvestment act provided support by creating and saving jobs. Also, it provided relief programs.
How is Harlem established as an african-american community?
Harlem was established as an African American community by the first govenor. just kidding i know nothing about this question. sorry
Which act established a competitive open bid system?
The Civil Sundry Act of 1861 established a competitive open bid system.
What year had Rome established a Chistian community?
300 A.d.
What is promoted by the Community Reinvestment Act?
These laws include the Community Reinvestment Act, which promotes community credit needs.
Where can you find details of the American Recovery and Reinvestment Act?
You can find details of the American Recovery and Reinvestment Act at Recovery.gov.
Jimmy Carter and the Community reinvestment act?
Just before Jimmy's Community Reinvestment Act (CRA) came the Equal Credit Opportunity Act signed by Gerald Ford, pretaining to crediting and investing, the name says it all. Then directly leading to what's behind the economic crisis facing our nation right now, is not the banks. It all started in Carter's administration when he readily signed the Community Reinvestment Act in 1977. This act FORCED banks to lower standards for making riskier loans to risky investors. Then came in Bill Clinton's administration that further degraded the banks standards, which allowed for even more risky investments. It just so happens that the bulk speculating came out across on the housing market.
The American recovery and reinvestment act provided support bye?
The American recovery and reinvestment act provided support by creating and saving jobs. Also, it provided relief programs.
Is the stimulus bill the same as the American Recovery and Reinvestment Act of 2009?
yes the American recovery and reinvestment act (ARRA) is the same thing as the stimulus package. the (ARRA) is the real name.
The American Recovery and Reinvestment Act of 2009 was passed in response to?
An economic crisis
What was Barack Obama's most important achievement?
he passed the American Recovery and Reinvestment Act
What does the abbreviation cra mean?
CRA can stand for different things depending on the context. It could refer to the Canada Revenue Agency, Community Reinvestment Act, or Clinical Research Associate.
When was Casino Reinvestment Development Authority created?
The Casino Reinvestment Development Authority (CRDA) was created on March 2, 1984. The CRDA is a New Jersey state agency that was established to help revitalize and develop Atlantic City by utilizing funds generated from the casino industry. Its primary goal is to support economic development, tourism, and community projects in the Atlantic City region. BR Softech is a Leading Casino game Development company.
Why did some governors object to the American Recovery and Reinvestment Act ARRA?
Some governors objected to the American Recovery and Reinvestment Act because government funds were not shared equally among states. States with large automotive plants such as Michigan clearly benefited from the funds while other states did not receive many benefits.
What act of congress established JROTC?
The act of congress that established the JROTC Program is the National Defense Act of 1916.
What three things must a community have in order to be officialy established as a community?
what three things must a community have in order to be officially established as a municipality
