The Community Reinvestment Act (CRA) requires banks to have a continuing and affirmative obligation to help meet the credit needs of the low- and moderate-income neighborhoods in which they do business, consistent with safe and sound business practices. It is difficult, however, for anyone to understand exactly how a bank is fulfilling their reinvestment obligations under the CRA, and difficult to hold them accountable, as banks invest locally, but report regionally.

To help uphold the CRA in New York City, ANHD annually publishes our “State of Bank Reinvestment in NYC Annual Report,” using original as well as public data, to provide a uniquely local and comprehensive analysis of each local bank’s activities as well as the impact of the CRA. The report analyzes the CRA activity of 20+ banks that operate in New York City, including (1) Deposits and the reinvestment quantity & quality indexes; (2) Branches and banking products; (3) Multifamily lending; (4) 1-4 family lending; (5) Community development staff, community development lending, and CRA-qualified investments; (6) Economic development and small business lending; and (7) CRA-eligible philanthropic grants.

This report is a critical part of our work, as it helps support quality, intentional bank reinvestment in building and preserving affordable housing, providing access to safe affordable banking services, revitalizing neighborhoods, and supporting quality jobs. Our local analysis shows the impact of the CRA at a local level and how to better meet the needs of our city’s families and neighborhoods.