Community Reinvestment Act Inquiry

Community Reinvestment Act - Community Contacts Inquiry

• The text contains a series of questions related to the Community Reinvestment Act, aimed at gathering information about discriminatory actions and credit needs in the community.
• These questions seek to uncover whether people affected by discriminatory practices were informed about the complaint process and whether any complaints involved discouragement from submitting applications.
• There is a focus on allegations of geographic or racial redlining, as well as other forms of discrimination, and the text inquires about specific evidence of discriminatory actions by institutions.
• The directive advises forwarding relevant information to the institution’s primary regulator if the allegations are not within the agency's jurisdiction.
• The text seeks opinions on outstanding institutions meeting the community’s needs and their specific actions, as well as notable institutions unwilling to respond to the community’s needs and reasons for this.
• It asks for an evaluation of how well specific institutions meet the credit needs of the community and involvement with banks, savings and loans, or mortgage companies.
• Community-based organizations are questioned about discussions with financial institutions, in-kind services provided, efforts to inform and obtain participation from institutions, and obstacles preventing greater involvement from financial institutions.
• Real estate brokers are asked about working with financial institutions for home mortgages, the delivery of rate sheets, and lenders perceived as not meeting the needs of women or minority applicants.
• The text inquires about outreach activities by institutions for women or minority customers, willingness to work on exceptions on credit reports, and favored lenders in the minority and/or women’s business community.
• Business, labor, or consumer groups working with the women or minority business community are questioned about working with specific lenders and the percentage of referred home buyers and small businesses to recommended lenders.
• It seeks information on methods to increase the use of insured financial institutions by people in the market area, attracting portions of the market by some financial institutions, and difficulties faced by women or minorities in obtaining mortgage loans.
• The text aims to gain an understanding of the general perception of financial institutions in the minority and women’s business community, separate minority or small business counseling services, and the use of the Community Contact Form for sharing interview information with regulatory agencies.