COMMUNITY REINVESTMENT ACT

Community Reinvestment Act: translation

Community Reinvestment Act ( CRA)

A federal statute enacted to require banks and savings and loan associations to meet the credit needs of their communities, including low- and moderate-income neighborhoods. American Banker Glossary

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( CRA)

Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. Bloomberg Financial Dictionary

Community Reinvestment Act Comˌmunity Reinˈvestment Act noun

LAW in the US, a law saying that banks must encourage investment in local areas, for example by lending money to people living in poor areas or who are on low incomes

сокр. CRA банк., фин., амер. закон "О коммунальных [местных\] реинвестициях"* (требует, чтобы банки удовлетворяли кредитные потребности местности, в которой они принимают депозиты, в том числе — потребности близлежащих отсталых и бедных районов; принят конгрессом в 1977 г.)