[Congressional Record (Bound Edition), Volume 145 (1999), Part 10]
[House]
[Page 14719]
[From the U.S. Government Publishing Office, www.gpo.gov]



                     THE COMMUNITY REINVESTMENT ACT

  (Ms. BALDWIN asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. BALDWIN. Mr. Speaker, I rise today to add my voice in support of 
the Community Reinvestment Act. Since 1977 this act has been 
instrumental in countering discrimination in lending practices. As we 
consider H.R. 10 this week, we should strengthen this successful 
program.
  The CRA requires that financial institutions give back to the 
communities in which they reside. In the 22 years of its existence 
loans to African Americans have increased 72 percent, loans to Hispanic 
families have increased by 45 percent. These impressive statistics 
along with CRA's track record of assisting low income families 
participate in the American dream of home ownership and 
entrepreneurship should be enough evidence to protect and expand it in 
the House banking bill. Neighborhoods that only two decades ago were in 
decline are now showing signs of new life.
  Mr. Speaker, the CRA encourages fair business practices, 
reinvigorates communities and creates jobs, all things this Congress 
should support.

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