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The 2004-2005 Amendments to the Community Reinvestment Act Regulations

For Communities, One Step Forward and Three Steps Back

By Richard D. Marsico

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of Currency, and the Office of Thrift Supervision have issued their 2004-2005 amendments to the Community Reinvestment Act. Although low-income communities lost ground on data disclosure policy, assessment areas, and community investments, gains were made in predatory lending regulation. To determine the net effect of the recent amendments on low-income communities, advocates should continue to monitor, record, and disclose lending patterns.

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