Peter Conti-Brown, The Wharton School, University of Pennsylvania; Brookings Institution; and Brian D. Feinstein, The Wharton School, University of Pennsylvania

The Community Reinvestment Act (CRA) of 1977 has failed to meaningfully reduce the prevalence of “banking deserts” across lower-income communities or to reduce the racial wealth gap. As a corrective, banks should be graded on a curve, which would enable the CRA to fulfill its promise: to expand access to credit, spur investment in overlooked areas, and combat racial inequities through the financial system.
More “Current Scholarship
Banking on a Curve: How to Restore the Community Reinvestment Act”