It was 35 years ago today, Oct. 12, 1977, that the Community Reinvestment Act (CRA) was put into place. At Popular Community Bank, we are honoring this anniversary by embarking on a week-long celebration in the communities we currently serve.
Since CRA was enacted by Congress and implemented by Regulation BB 35 years ago, the regulation has been updated (specifically in May 1995 and August 2005), and there have been amendments made to the rule.
- What is the CRA?
According to the the Office of the Comptroller of the Currency (OCC), the CRA “provides a framework for financial institutions, state and local governments, and community organizations to jointly promote banking services to all members of a community.” (For a more in-depth look at CRA, visit the US Government Printing Office’s website.)
Our branches are working with their local relationships to set up community events throughout the coming week, focusing on a specific area of financial education. Each day, throughout the country, there will be a theme to our events. Those themes will be:
- Monday: Budgeting
- Tuesday: Small Business
- Wednesday: Financial Planning
- Thursday: Credit
- Friday: Identity Theft
On each of these days, we will also be focusing the blog on these themes; we have some great ideas and resources that will be made available each day.
The end of next week will also close our Make A Difference Day Challenge. For 11 years, Popular Community Bank has been a champion of Make A Difference Day, and this year is no different. Stop by our Facebook page for details.