Community Reinvestment Act (CRA)
HOW USA CARES ASSIST VETERANS THAT ARE IN LOW TO MODERATE INCOME (LMI)
What is the Community Reinvestment Act (CRA)?
The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.
Banking Regulators for the CRA
Three federal banking agencies, or regulators, are responsible for the CRA. Banks that have CRA obligations are supervised by one of these three regulators. Each regulator has a dedicated CRA site that provides information about the banks they oversee and those banks’ CRA ratings and Performance Evaluations.
Federal Reserve's Role
The Federal Reserve supervises state member banks–or, state-chartered banks that have applied for and been accepted to be part of the Federal Reserve System–for CRA compliance.
To carry out its role, the Federal Reserve
- Examines state member banks to evaluate and rate their performance under the CRA;
- Considers banks’ CRA performance in context with other supervisory information when analyzing applications for mergers, acquisitions, and branch openings; and
- Shares information about community development techniques with bankers and the public.
Source:Federal Reserve Board – Community Reinvestment Act (CRA)
(https://www.federalreserve.gov/consumerscommunities/cra_about.htm)
| HOUSEHOLD INCOME – 2021 | All Applicants | Applicant % Total | Assisted | Assisted % Total |
|---|---|---|---|---|
| Less than $9,999 | 1,158 | 18.73% | 126 | 23.29% |
| $10,000 to $14,999 | 550 | 8.90% | 39 | 7.21% |
| $15,000 to $24,999 | 1,188 | 19.22% | 117 | 21.63% |
| $25,000 to $34,999 | 1,176 | 19.03% | 94 | 17.38% |
| $35,000 to $49,000 | 1,383 | 22.38% | 116 | 21.44% |
| $50,000 and up | 677 | 10.95% | 48 | 8.87% |
| No Response | 48 | 0.78% | 0 | 0.00% |
For more information, please contact Taylre Campbell at taylre@usacares.org or Trace Chesser at trace@usacares.org
Number & Amount of case payments: 2017-2021
| State | Amount of Case Payments | Count of Case Payments |
|---|---|---|
| Individual-Main | $4,348,295.08 | 3,911 |
| Alaska | $3,437.65 | 4 |
| Alabama | $105,189.07 | 88 |
| Arkansas | $30,218.41 | 27 |
| Arizona | $117,155.99 | 108 |
| California | $397,649.85 | 343 |
| Colorado | $133,246.56 | 130 |
| Connecticut | $26,591.01 | 21 |
| D.C. | $10,358.40 | 9 |
| Delaware | $12,457.31 | 9 |
| Florida | $387,985.83 | 368 |
| Georgia | $367,102.07 | 330 |
| Hawali | $29,936.73 | 21 |
| Lowa | $6,869.48 | 9 |
| Idaho | $10,712.99 | 9 |
| Illinois | $74,380.50 | 70 |
| Indiana | $87,660.30 | 84 |
| Kentucky | $144,157.31 | 108 |
| Kansas | $17,252.69 | 22 |
| Louisiana | $34,638.51 | 31 |
| Massachusetts | $25,570.11 | 20 |
| Maryland | $75,943.24 | 75 |
| Maine | $7,277.10 | 5 |
| Michigan | $61,622.87 | 58 |
| Minnesota | $38,652.91 | 35 |
| Missouri | $69,856.81 | 74 |
| State | Amount of Case Payments | Count of Case Payments |
|---|---|---|
| Mississippi | $48,826.11 | 45 |
| Montana | $10,569.41 | 9 |
| North Carolina | $236,584.89 | 233 |
| North Dakota | $6,767.19 | 5 |
| Nebraska | $17,032.59 | 13 |
| New Hampshire | $6,156.51 | 7 |
| New Jersey | $44,588.72 | 40 |
| New Mexico | $15,480.78 | 18 |
| Nevada | $54,500.00 | 44 |
| New York | $76,659.41 | 67 |
| Ohio | $81,680.23 | 87 |
| Oklahoma | $42,293.37 | 42 |
| Oregon | $27,968.09 | 25 |
| Pennsylvania | $117,680.44 | 91 |
| Rhode Island | $10,432.61 | 9 |
| South Carolina | $125,219.49 | 100 |
| South Dakota | $9,448.24 | 7 |
| Texas | $688,609.88 | 605 |
| Tennessee | $89,677.23 | 86 |
| Utah | $25,720.49 | 21 |
| Virginia | $196,260.12 | 169 |
| Vermont | $3,232.91 | 3 |
| Washington | $83,251.13 | 76 |
| Wisconsin | $33,632.83 | 31 |
| West Virginia | $12,444.36 | 14 |
| Wyoming | $1,697.50 | 2 |
| $3,492.12 | 1 | |
| Overseas | $2,464.79 | 3 |
| Grand Total | $4,348,295.08 | 3,911 |
Total Number Of Requests : 2017-2021
| State | Count of Case Payments |
|---|---|
| Individual-Main | 41,149 |
| Alaska | 106 |
| Alabama | 979 |
| Arkansas | 357 |
| Arizona | 1,119 |
| California | 3,824 |
| Colorado | 1,114 |
| Connecticut | 250 |
| D.C. | 79 |
| Delaware | 82 |
| Florida | 3,426 |
| Georgia | 2,914 |
| Hawali | 159 |
| Lowa | 213 |
| Idaho | 128 |
| Illinois | 921 |
| Indiana | 797 |
| Kentucky | 1,052 |
| Kansas | 378 |
| Louisiana | 586 |
| Massachusetts | 302 |
| Maryland | 850 |
| Maine | 84 |
| Michigan | 919 |
| Minnesota | 389 |
| Missouri | 845 |
| State | Count of Case Payments |
|---|---|
| Mississippi | 412 |
| Montana | 108 |
| North Carolina | 2,172 |
| North Dakota | 42 |
| Nebraska | 184 |
| New Hampshire | 86 |
| New Jersey | 525 |
| New Mexico | 217 |
| Nevada | 476 |
| New York | 973 |
| Ohio | 922 |
| Oklahoma | 576 |
| Oregon | 390 |
| Pennsylvania | 1,106 |
| Rhode Island | 76 |
| South Carolina | 925 |
| South Dakota | 73 |
| Texas | 5,401 |
| Tennessee | 1,001 |
| Utah | 171 |
| Virginia | 1,860 |
| Vermont | 35 |
| Washington | 898 |
| Wisconsin | 368 |
| West Virginia | 178 |
| Wyoming | 51 |
| 5 | |
| Overseas | 45 |
| 36 | |
| Grand Total | 41,185 |
Number of Requests Not Assisted due to lack of funds: 2017-2021
| State | Count of Case Payments |
|---|---|
| Individual-Main | 12,711 |
| Alaska | 30 |
| Alabama | 293 |
| Arkansas | 117 |
| Arizona | 355 |
| California | 1,171 |
| Colorado | 340 |
| Connecticut | 69 |
| D.C | 25 |
| Delaware | 29 |
| Florida | 1,091 |
| Georgia | 924 |
| Hawali | 53 |
| Lowa | 74 |
| Idaho | 35 |
| Illinois | 282 |
| Indiana | 235 |
| Kentucky | 218 |
| Kansas | 118 |
| Louisiana | 178 |
| Massachusetts | 81 |
| Maryland | 268 |
| Maine | 24 |
| Michigan | 292 |
| Minnesota | 123 |
| Missouri | 254 |
| State | Count of Case Payments |
|---|---|
| Mississippi | 122 |
| Montana | 36 |
| North Carolina | 690 |
| North Dakota | 16 |
| Nebraska | 53 |
| New Hampshire | 28 |
| New Jersey | 164 |
| New Mexico | 69 |
| Nevada | 142 |
| New York | 329 |
| Ohio | 285 |
| Oklahoma | 177 |
| Oregon | 119 |
| Pennsylvania | 343 |
| Rhode Island | 31 |
| South Carolina | 274 |
| South Dakota | 23 |
| Texas | 1,610 |
| Tennessee | 317 |
| Utah | 54 |
| Virginia | 653 |
| Vermont | 10 |
| Washington | 291 |
| Wisconsin | 110 |
| West Virginia | 56 |
| Wyoming | 13 |
| (blank) | 2 |
| Oveeseas | 15 |
| (blank) | 11 |
| Grand Total | 12,722 |