By Vic & Bonnie Sutton
Ways to use the Community Reinvestment Act (CRA) to persuade banks to invest in projects to promote digital equity was the central focus of a meeting of the National Collaborative for Digital Equity (NCDE), held in Washington, DC, on 14-15 May 2019.
The meeting was hosted by the National Education Association and brought together some 70 participants from across the country.
The CRA is a federal statute enacted in 1977. It requires the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Controller of the Currency (OCC) to encourage financial institutions to help meet the credit needs of the communities in which they do business, especially in low- and moderate-income neighborhoods. Continue reading
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