CRA Campaign

Myths about CRA Changes

Field Stories

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Coalition

Impact on States

Banks should not be allowed to jettison community reinvestment responsibilities ... in the quest for profit. If these new regulations are allowed to stand ... Communities could eventually find themselves back in the dark ages of redlining and financial isolation.

New York Times
August 21, 2004

On September 9, 2004 a broad-based coalition of consumer, civil rights, rural, and housing organizations held a press conference to voice opposition to the plans to gut the Community Reinvestment Act.

The group of organizations is sent letters to the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Federal Reserve Board.

Read the initial press release from the coalition and this from the National Community Reinvestment Coalition that addresses some of the myths about CRA changes. There are also statements from some of the participants.

The organizations represented included:

• AARP
• ACORN
• AFL-CIO
• American Corn Growers Association
• Center for Community Change
• Center for Rural Strategies
• Coalition for Responsible Lending
• Coalition of Community Development Financial Institutions
• Consumer Action
• Consumer Federation of America
• Consumers Union
• Enterprise Foundation
• Federation of Southern Cooperatives
• Housing Assistance Council
• Leadership Conference on Civil Rights
• League of Rural Voters
• Local Initiatives Support Corporation
• NAACP
• NAAHL
• National Association of Consumer Advocates
• National Association of Counties
• National Association of Housing and Redevelopment Officials
• National Catholic Rural Life Conference
• National Community Action Foundation
• National Community Capital Association
• National Community Development Association
• National Community Reinvestment Coalition
• National Congress for Community Economic Development
• National Congress of American Indians
• National Consumer Law Center
• National Council of La Raza
• National Fair Housing Alliance
• National Family Farm Coalition
• National League of Cities
• National Low Income Housing Coalition
• National People’s Action (NPA)
• National Training and Information Center (NTIC)
• National Tribal Development Association
• National Urban League
• Rural Coalition/Coalición Rural
• Stand Up for Rural America
• United Auto Workers
• U.S. Conference of Mayors
• U.S. Public Interest Research Group