The Community Reinvestment Act (CRA) is a landmark civil rights law passed in 1977 to end discrimination that was once common in America’s banking and housing markets. The CRA is currently being targeted in an effort to change the regulations that have had positive impact for organizations like ULC, who are dedicated to expanding access to economic opportunity.

The CRA has made a huge difference for entire neighborhoods that were once excluded from lending to buy homes and build small businesses, or more commonly referred to as “redlining”. With the current trajectory of our housing market and the continued discrimination in lending, CRA is needed now more than ever.

ULC strongly opposes the proposed changes to CRA, and is concerned that the changes will significantly lower loans, investments, and services to low-and moderate communities.

Without the CRA, ULC’s Metro Denver Impact Facility (MDIF) would not have been created. MDIF has provided an invaluable revolving source of loan capital for the preservation and creation of affordable housing in the Metro Denver region, and without this critical funding tool, we would not have been able to secure our senior lending partner, FirstBank, and junior lending partners.

Write to the OCC and FDIC and express your concerns about the proposed change here.