The Community Reinvestment Act To Be Discussed at Next Delta Communities Meeting

GREENWOOD, MISS. â€• How the Community Reinvestment Act plays into community and economic development projects is the subject of the next Delta Communities meetings, a series that focuses on life in the Arkansas and Mississippi Delta.

The Delta Communities project hosted by the Federal Reserve Bank of St. Louis continues Jan. 19 in Greenwood, Miss., and Jan. 20 in Helena, Ark. The theme will be Tapping the Community Reinvestment Act for Community and Economic Development.

The CRA was enacted by Congress in 1977 with the intent of encouraging depository institutions to help meet the credit needs of the communities in which they operate. Since that time, the CRA has prompted investments totaling more than $1 trillion dollars and provided economic opportunities in cities and rural areas across the country.

During this session, participants will hear from experts from the Federal Reserve and community development organizations about the background and definitions that underpin the CRA. In addition, participants will hear from representatives of financial institutions about what they look for in community and economic development partners and opportunities.

This set of meetings is identical in format, so registrants are encouraged to attend either the Helena or the Greenwood meeting. For more information or to register, visit https://www.stlouisfed.org/events/2017/01/cd-deltacomm0119.

The Delta Communities series began in June and is presented by the Community Development department of the St. Louis Fed, which addresses challenges confronting low- and moderate-income communities in the Federal Reserve’s Eighth District. Earlier meetings identified challenges and opportunities of living in the Delta, focused on how credit affects small businesses, gave tips on building the right team and provided ideas for how to finance community and economic development projects.

Media interested in additional information or who would like to attend should contact Maria Hasenstab at 314-444-8321 or maria.e.hasenstab@stls.frb.org.