Community Reinvestment Act of 1977
GPTKB entity
Statements (52)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:legislation
|
| gptkbp:administered_by |
gptkb:Federal_Reserve
gptkb:Office_of_the_Comptroller_of_the_Currency gptkb:Federal_Deposit_Insurance_Corporation |
| gptkbp:amended_by |
gptkb:Community_Development_Banking_and_Financial_Institutions_Act_of_1994
gptkb:Gramm-Leach-Bliley_Act |
| gptkbp:criticism |
insufficient enforcement mechanisms
vague definitions of community needs |
| gptkbp:effective_date |
October 12, 1977
|
| gptkbp:enacted_by |
gptkb:United_States_Congress
|
| gptkbp:enforces |
public comments
Community Reinvestment Act ratings regulatory examinations |
| gptkbp:evaluates |
every 2 years
investment practices lending practices service practices |
| gptkbp:goal |
reduce discrimination in lending
promote economic revitalization ensure access to credit |
| gptkbp:historical_context |
part of broader civil rights movement
influenced by Fair Housing Act of 1968 response to redlining practices |
| https://www.w3.org/2000/01/rdf-schema#label |
Community Reinvestment Act of 1977
|
| gptkbp:impact |
increased home ownership rates
increased lending in low-income neighborhoods enhanced community development improved access to financial services |
| gptkbp:is_a_supporter_of |
community organizations
civil rights groups |
| gptkbp:legislation |
gptkb:Dodd-Frank_Wall_Street_Reform_and_Consumer_Protection_Act
gptkb:Housing_and_Community_Development_Act_of_1980 |
| gptkbp:opponent |
banking industry
|
| gptkbp:purpose |
encourage financial institutions to meet the credit needs of all communities
|
| gptkbp:regulates |
banking institutions
|
| gptkbp:related_concept |
gptkb:community_development
financial inclusion economic justice |
| gptkbp:related_to |
fair housing
redlining |
| gptkbp:requires |
public disclosure of lending practices
banks to assess community needs |
| gptkbp:signed_by |
gptkb:Jimmy_Carter
|
| gptkbp:success_rate |
improvement in credit access for minorities
increased bank lending to low-income areas increased investment in affordable housing reduction in discriminatory lending practices growth of community development financial institutions enhanced economic opportunities for underserved communities |
| gptkbp:bfsParent |
gptkb:Henry_B._Gonzalez
gptkb:Community_Reinvestment_Act_Amendments |
| gptkbp:bfsLayer |
5
|