What does community reinvestment act mean?
DEFINITION of 'Community Reinvestment Act - CRA' An act of Congress enacted in 1977 with the intention of encouraging depository institutions to help meet the credit needs of surrounding communities (particularly low and moderate income neighborhoods).
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When was the Community Reinvestment Act established?
A Brief Description of CRA. Passed by Congress in 1977, the Community Reinvestment Act (CRA) states that “regulated financial institutions have continuing and affirmative obligations to help meet the credit needs of the local communities in which they are chartered.”

Which President signed the Community Reinvestment Act?
On signing the Gramm-Leach-Bliley Act, President Clinton said that it, "establishes the principles that, as we expand the powers of banks, we will expand the reach of the [Community Reinvestment] Act".

A CRA home loan is originated by a federally regulated bank or mortgage lender that is obligated to meet the requirements of the Community Reinvestment Act (CRA) of 1977. Some banks refer to these loan products as "portfolio loans."

Community organizers such as that assbutt oboma and his ilk coerced banks into giving people loans that they couldn't afford knowing that one day they'd be able to steal HARD WORKING AMERICANS MONEY WHEN THE NIDGERS QUIT PAYING.. Simple as that