General World News

Feds release list of poor rural areas that need affordable-housing lending

The federal banking regulators responsible for overseeing the Community Reinvestment Act (CRA) obligations of lenders they regulate have released the 2022 list of distressed or underserved rural census tracts where community-development loans, investments and services are eligible for special CRA consideration.

Community-development efforts eligible for the special consideration include affordable-housing lending in these lower-income rural census tracts. The CRA was enacted in 1977 to encourage financial institutions to meet the credit needs of the local communities they serve — with a focus on addressing the community development in low- and moderate-income individuals.

CRA regulations define lending and other details ⇒

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