Community Reinvestment Act Resources

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.


Community Reinvestment Act (CRA) Proposed Rulemaking – May 5, 2022

The Community Reinvestment Act, or CRA, was signed into law in 1977 and is a seminal piece of legislation to address inequities in access to credit for low- and moderate-income individuals and communities. After receiving substantial feedback from stakeholders, the Board, the FDIC, and the OCC issued a notice of proposed rulemaking that would amend their regulations implementing the CRA. The agencies’ objectives include updating the CRA regulations to strengthen the achievement of the core purpose of the statue, and to adapt to changes in the banking industry, including the expanded role of mobile and online banking.


Self-Assessment Guide to CRA (Community Investment) for Mortgage Lenders from Division of Banks

In 2007, the Division of Banks established 209 CMR 54.00 to carry out the mortgage lender community investment purposes required by M.G.L. c. 255E, § 8. Through the statute and regulation, mortgage lenders originating 50 or more HMDA reportable loans in Massachusetts are assessed on their record of meeting the credit needs of the Commonwealth, including low and moderate income neighborhoods and individuals when originating residential loans and acquiring loan portfolios within the Commonwealth. This self-assessment guide is intended for mortgage lenders, CEOs, senior officers, CRA and compliance officers to consider as a helpful reference for CRA compliance. P lease refer to official legal citations, M.G.L. 255E § 8 and 209 CMR 54.00; for additional regulatory guidance refer to Regulatory Bulletin 1.3-105 Alternative CRA Examination Procedures. The report can also be viewed via the Division of Banks website here.