The Community Reinvestment Act (CRA) is a federal law enacted in 1977 aimed at encouraging financial institutions to meet the credit needs of all communities, particularly low- and moderate-income neighborhoods. By promoting investment in these areas, the CRA seeks to combat redlining and ensure equitable access to mortgage loans and other financial services, ultimately supporting homeownership and affordability for underserved populations.
congrats on reading the definition of Community Reinvestment Act. now let's actually learn it.