What I Saw at the Discover-Capital One Merger Hearing

Next City
Wednesday, July 24, 2024

"The Community Reinvestment Act of 1977 is as special as it is frustrating.

What makes the Community Reinvestment Act special is that, rather than saying what banks shouldn't do, it says what they should do. Specifically, it says that banks 'have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.'"