Interagency Statement: Agencies to Give Favorable CRA Consideration to Revitalization Activities in Disaster Areas Affected by Hurricane Maria
OCC Statement FDIC Statement Federal Reserve Statement The federal bank regulatory agencies today announced they will give favorable consideration under Community Reinvestment Act (CRA) regulations to institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as major disaster areas in the aftermath of Hurricane Maria, for bank activities…
Federal Reserve: Recent Trends in Small Business Lending and the Community Reinvestment Act
Tim Dore and Traci Mach In this note, we analyze data on small business loan originations collected under the Community Reinvestment Act (CRA) to document heterogeneity in the recovery in small business lending since the financial crisis. Small business loan originations by CRA respondents declined significantly between 2007 and 2010 and, by 2016, have only…