WHEREAS, the Community Reinvestment Act (CRA) encourages lending institutions to help meet and to direct resources to promote the economic equity of low and moderate income communities; and
WHEREAS, there remains a great need to ensure black and minority communities are engaging in these banking decisions and investments within their own communities; and
WHEREAS, historically Black and brown minority communities have not substantially engaged and directed how these resources will be allocated from Local, State and National banks; and
WHEREAS, for 30 years the NAACP has educated its units and members on methods to fully utilize the Community Reinvestment Act; and
WHEREAS, the Greater New Haven Branch of the NAACP recently developed a program under the CRA guidelines with a local bank and have been able to direct 7.5 million dollars to promote economic equity within our community.
THEREFORE, BE IT RESOLVED, that all Units aggressively engage and encourage local and national banks within our communities to ensure that CRA resources are invested, consistent with the needs of their communities.
BE IT FINALLY RESOLVED, that with the dynamics of the bank industry all State Conferences take the opportunity to engage banking commissions to ensure the full intent of the CRA be implemented within the respective communities.