Community Reinvestment

Concept of Community Reinvestment Act in the context of U.S. Real Property

A short definition of Community Reinvestment Act: Federal legislation of 1977 (and subsequent amendments) for the purpose of encouraging banks and thrifts (savings and loans) to make more loans in their local areas. The act created the National Consumer Cooperative Bank to make loans to local banks and thrifts for community investment (loans) and also to guarantee certain loans made in the local community.

Concept of Community Reinvestment Act in the context of U.S. Real Property

A short definition of Community Reinvestment Act: Federal legislation of 1977 (and subsequent amendments) for the purpose of encouraging banks and thrifts (savings and loans) to make more loans in their local areas. The act created the National Consumer Cooperative Bank to make loans to local banks and thrifts for community investment (loans) and also to guarantee certain loans made in the local community.