Community Reinvestment Act

The Community Reinvestment Act (CRA) was enacted in 1977, to encourage banks to help meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods and individuals. The CRA extended and clarified the long-standing expectation that banks will serve the convenience and needs of their local communities.

Today, CRA is designed to encourage banks to help rebuild and revitalize communities through sound lending and good business judgment that benefits the banks and the communities they serve.  CRA also provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services in low- and moderate-income communities and for low- and moderate-income individuals.

Under CRA regulations, a depository institution is required to maintain a public file containing specific information, including all written, public comments received for the current year and for the previous two calendar years specifically relating to the bank’s performance in helping to meet community credit needs. The file must also contain any bank responses made to the public comments. (The institution is not required to include comments or responses to the public comment letters if they contain statements that reflect adversely on the good name or reputation of any persons other than the bank or if their publication would violate specific provisions of law.)  Depository institutions must also place an appropriate notice in the lobby of their main office and in each of their branches that states where the CRA public file is located. The institution must provide copies of public-file information upon request but may charge a reasonable fee not exceeding the cost of copying and mailing.

CRA Public File for the Hicksville Bank 2025