Community Reinvestment Act
Community Reinvestment Act of 1977
§ LEGISLATIONhousing· 1977
What It Did
Required banks and thrifts to meet the credit needs of the communities where they are chartered, including low- and moderate-income neighborhoods. Regulators evaluate CRA compliance when banks seek to merge, expand, or open new branches.
The Vote
House · 372–9 (passage)
D
255 YEA · 2 NAY
R
117 YEA · 7 NAY
Senate · 87–0 (passage)
D
55 YEA · 0 NAY
R
32 YEA · 0 NAY
Key Sponsors
→ William Proxmire (D-WI) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Homeownership Rate
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House Price Index
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30-Year Mortgage Rate
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.