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Community Reinvestment Act

What Is The Community Reinvestment Act (CRA)?

The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.

Banking Regulators For The CRA

Three federal banking agencies, or regulators, are responsible for the CRA. Banks that have CRA obligations are supervised by one of these three regulators. Each regulator has a dedicated CRA site that provides information about the banks they oversee and those banks’ CRA ratings and Performance Evaluations.

 

  • Federal Deposit Insurance Corporation (FDIC)
  • Federal Reserve Board (FRB)
  • Office of the Comptroller of the Currency (OCC)

Federal Reserve's Role

The Federal Reserve supervises state member banks–or, state-chartered banks that have applied for and been accepted to be part of the Federal Reserve System–for CRA compliance. To carry out its role, the Federal Reserve

 

  • Examines state member banks to evaluate and rate their performance under the CRA;
  • Considers banks’ CRA performance in context with other supervisory information when analyzing applications for mergers, acquisitions, and branch openings; and
  • Shares information about community development techniques with bankers and the public.

Source:Federal Reserve Board – Community Reinvestment Act (CRA)
(https://www.federalreserve.gov/consumerscommunities/cra_about.htm)

Community Qualifier

Community Qualifier profile : USA Cares Inc | findCRA
Our LMI Information
Income Range All Applicants Applicant % Total Assisted Assisted % Total
Less than $9,999 1,158 18.73% 126 23.29%
$10,000 to $14,999 550 8.90% 39 7.21%
$15,000 to $24,999 1,188 19.22% 117 21.63%
$25,000 to $34,999 1,176 19.03% 94 17.38%
$35,000 to $49,000 1,383 22.38% 116 21.44%
$50,000 and up 677 10.95% 48 8.87%
No Response 48 0.78% 0 0.00%

For more information please email info@usacares.org or call 800-773-0387.

Number & Amount Of Case Payments: 2017-2021

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Total Number Of Requests : 2017-2021

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Number Of Requests Not Assisted Due To Lack Of Funds: 2017-2021

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