Publication
Modernizing the Community Reinvestment Act
An equity analysis of the 2023 CRA update
Regulations governing the federal Community Reinvestment Act (CRA)–the nation’s landmark anti-redlining legislation–were updated for the first time in nearly 30 years in October 2023. Redlining was a tool used by banks to systematically deny financial services to communities of color prior to the CRA’s enactment in 1977, fueling this country’s massive racial wealth gap. The CRA outlawed redlining and implemented requirements for banks to invest in the communities they serve.
Federal regulators responsible for administering the CRA updated the rule, which will come into effect in January of 2026. While this update provided a much needed and forward-looking refresh to the regulations, several gaps remain, including the Greenlining Coalition’s request for the CRA to explicitly consider racial equity in its implementation.
Learn more about what was and wasn’t included in this historic update.