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CRA Draws New Boundaries for Assessments New updates to the Community Reinvestment Act could result in an array of new assessment areas. An overhaul of the 1977 law has been in the works for a long time. The law is intended to encourage banks to lend to low- and moderate-income communities and was last updated in 1995. The recent modernization effort aims to update it to better reflect changes in the banking landscape — notably the rise of digital financial services. Among other changes, the new proposed rule outlines three types of geographic areas in which a large bank’s CRA…
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WRITTEN BY
Laura Alix
Director of Research
Laura Alix is the Director of Research at Bank Director, where she collaborates on in-depth strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for BankDirector.com and edits online video content. Laura is particularly interested in workforce recruitment and retention strategies, and environmental, social and governance issues facing the banking industry. Previously, she covered national and regional banks for American Banker, and before that, she covered community banks for Banker & Tradesman and The Commercial Record. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College. You can follow her on Twitter or connect on LinkedIn.