Controlled by CITY COUNCIL
Commending the Federal Reserve Bank of Philadelphia's Research Department for its important analysis of the effects of the Community Reinvestment Act (CRA) on the mortgage market in the aftermath of the Great Recession and urging the City's Department of Planning and Development to identify potential solutions to recent federal policy changes that have resulted in more Philadelphia neighborhoods becoming CRA ineligible, leading to CRA-regulated lenders decreasing their mortgage lending in these neighborhoods.
Read the full Resolution: Signature17069700.pdf
(No actions taken)
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