March 20, 2013
Comptroller Discusses Community Reinvestment
WASHINGTON — Comptroller of the Currency Thomas J. Curry today discussed the Community Reinvestment Act during a speech before the National Community Reinvestment Coalition.
Since its enactment in 1977, the Community Reinvestment Act has served as a bridge that links financial institutions with community stakeholders. CRA has encouraged national banks and federal savings associations to innovate and serve their customers and their communities better. CRA lending to small businesses and farms exceeded $209 billion in 2011, and $82 billion of that amount was in loans to small businesses with revenues of $1 million or less. In 2011, banks originated nearly $47 billion in community development loans.