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A Little-Known Law Moves Money Into America’S Low-Income Neighborhoods — But For Whose Benefit?, Emily S. Lever
A Little-Known Law Moves Money Into America’S Low-Income Neighborhoods — But For Whose Benefit?, Emily S. Lever
Capstones
The Community Reinvestment Act of 1977 (CRA) is a federal financial regulation that was passed as a response to redlining, meaning the systematic denial of investment to poor and working-class communities and communities of color. The legislation rewards banks for making loans in low-income census tracts. But while CRA commitments drive investment to community development projects, it may also reward predatory or speculative investments whose recipients happen to be located in low-income communities.