There is debate about the extent to which HOLC engaged in redlining itself. See Hillier (2003) for a discussion.
The amendments in 1974 and 1988 also prohibited discrimination based on sex, disability, or familial status.
ECOA also prohibited discrimination on the basis of the applicant’s receipt of income from any public assistance program, or the applicant’s good faith exercise of any right under the Consumer Credit Protection Act.
Quoted in Dennis (1978).
For more information, see Johnsen and Myers (1996).
Visit the Federal Financial Institutions Examination Council's web page for more information on the current examination process and ratings criteria.
For example, the passage of the Riegle-Neal Act in 1994, which removed many of the restrictions on bank branching, likely contributed to an increase in CRA lending; with the opportunity to open many new branches, banks had a greater incentive to receive favorable reviews. See Bhutta (2011).
Avery, Robert B., Paul S. Calem, and Glenn B. Canner. “The Effects of the Community Reinvestment Act on Local Communities.” Paper prepared for the Federal Reserve System Conference Sustainable Community Development: What Works, What Doesn’t, and Why. March 20, 2003.
Bernanke, Ben. “The Community Reinvestment Act: Its Evolution and New Challenges.” Speech at the Community Affairs Research Conference, Washington, D.C., March 30, 2007.
Bhutta, Neil. “The Community Reinvestment Act and Mortgage Lending to Lower Income Borrowers and Neighborhoods.” Journal of Law and Economics, November 2011, vol. 54, pp. 953-983.
Braunstein, Sandra. “The Community Reinvestment Act.” Testimony before the U.S. House of Representatives Committee on Financial Services. February 13, 2008.
Chakrabarti, Prabal, David Erickson, Ren S. Essene, Ian Galloway, and John Olson, eds. Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act. A joint publication of the Federal Reserve Banks of Boston and San Francisco, February 2009.
Dahl, Drew, Douglas D. Evanoff, and Michael F. Spivey. “Does the Community Reinvestment Act Influence Lending? An Analysis of Changes in Bank Low-Income Mortgage Activity.” Federal Reserve Bank of Chicago Working Paper no. 2000-06, May 2000.
Dennis, Warren L. “The Community Re-investment Act of 1977: Its Legislative History and Its Impact on Applications for Changes in Structure Made by Depository Institutions to the Four Federal Financial Supervisory Agencies.” Purdue University Credit Research Center Working Paper no. 24, 1978.
Haltom, Renee. “The CRA and the Subprime Crisis.” Federal Reserve Bank of Richmond Region Focus, Fourth Quarter 2010, pp. 6-9.
Hillier, Amy E. “Redlining and the Homeowners’ Loan Corporation.” Journal of Urban History vol. 29, no. 4, May 2003, pp. 394-420.
Greer, James, March 2013. “The Home Owners’ Loan Corporation and the Development of the Residential Security Maps.” Journal of Urban History, vol. 39, no. 2, pp. 275-296
Johnsen, Terri, and Forest Myers. “New Community Reinvestment Act Regulation: What Have Been the Effects?” Federal Reserve Bank of Kansas City Financial Industry Perspectives, December 1996, pp. 1-11.
Ladd, Helen F. “Evidence on Discrimination in Mortgage Lending.” Journal of Economic Perspectives, Spring 1998, vol. 12, no. 2, pp. 41-62