30 March 2006

Community Reinvestment Act

Welcome back!

Go a call today from an agency who remembered something I had said in a conversation about why a financial institution, such as a bank, would have an interest in the work of a community development organization in the same community that the bank wants to do business.

In part the answer has to do with good business practice and maximizing profits. A secondary incentive might be the Community Reinvestment Act (1977) which is legislation that regulates the relationship between a financial institution and its community. For further information, click here.

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