Community Reinvestment Act: Preliminary Results of GAO's Study on CRA
Problems and Proposed Reforms (Testimony, 03/08/95, GAO/T-GGD-95-113).

This testimony provides GAO's observations on the implementation of the
Community Reinvestment Act, which requires regulators to encourage banks
to lend throughout the communities they serve, including low- and
moderate-income neighborhoods.  The act also requires regulators to
assess banks' community lending during examinations.  GAO addresses the
following four questions: (1) What were the main problems in
implementing the act, as identified by bankers, regulators, and
community groups? (2) If adopted, to what extent would the regulators'
reforms address these problems? (3) What challenges would the regulators
face in ensuring the success of the reforms? (4) What initiatives have
been taken to overcome community lending barriers and enhance lending
opportunities, particularly in low- and moderate-income areas?

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-GGD-95-113
     TITLE:  Community Reinvestment Act: Preliminary Results of GAO's 
             Study on CRA Problems and Proposed Reforms
      DATE:  03/08/95
   SUBJECT:  Insured commercial banks
             Lending institutions
             Banking regulation
             Regulatory agencies
             Investments
             Community development programs
             Mortgage loans
             Bank examination
             Information disclosure

             
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