The Community Reinvestment Act (CRA) is a vital funding source for our program, our homeowners, and for affordable housing nationwide. But, what is it? More importantly, if you already own your home, why should you care about current proposed changes to this program? Passed in 1977 the CRA sought to encourage banks to meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. As a result of the CRA, federal regulators evaluate the record of each financial institution that receives Federal Deposit Insurance Corporation (FDIC) insurance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions.
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SCCLT Monthly Meeting
The State College Community Land Trust Board meets on the last Wednesday of every month at 7:00 in the Borough Building. Archives
June 2020
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