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dc.contributor.authorPapadimitriou, Dimitri B.en_US
dc.contributor.authorPhillips, Ronnie J.en_US
dc.contributor.authorWray, L. Randallen_US
dc.date.accessioned2011-12-07en_US
dc.date.accessioned2012-01-06T14:08:50Z-
dc.date.available2012-01-06T14:08:50Z-
dc.date.issued1993en_US
dc.identifier.urihttp://hdl.handle.net/10419/54280-
dc.description.abstractThe establishment of a system of federally regulated, for-profit community development banks (CDBs) would help to fill the financial gap in areas inadequately served by traditional banks, requirements of the Community Reinvestment Act (CRA) notwithstanding. These organizations would be charged with delivering credit, payment, and savings opportunities and providing basic financing to households and small businesses in underserved areas. Such a system would not substitute for the CRA, but rather act as a supplement to current regulation. Proposed exemptions from CRA compliance for depository institutions that invest in the equity of a CDB would weaken the existing law by diluting the investment of the depository institution in its own particular community. Such proposals (under which investment has been defined to be as little as one-quarter of one percent of total assets) are not consistent with the spirit of the CRA and would negate the beneficial dialogue that takes place between the institution and the community in which it operates.en_US
dc.language.isoengen_US
dc.publisherLevy Economics Inst. Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesPublic policy brief // Jerome Levy Economics Institute of Bard College 6en_US
dc.subject.ddc330en_US
dc.titleA path to community development: The community reinvestment act, lending discrimination, and the role of community development banksen_US
dc.typeResearch Reporten_US
dc.identifier.ppn678660611en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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