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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
The goal was the return to a balance between the benefits of a state bank charter versus a federal bank charter. Among other notable changes, the Act stipulated that a federally chartered bank wishing to expand must first undergo a review of its Community Reinvestment Act compliance. [3] Congress approved the bill by September 14, 1994.
The Government Employee Fair Treatment Act of 2019 (GEFTA) is a United States federal law which requires retroactive pay and leave accrual for federal employees affected by the furlough as a result of the 2018–19 federal government shutdown and any future lapses in appropriations. [1]
Curtis Douglas vs. Veterans Administration (5 Merit Systems Protection Board (MSPB), 313 (1981) was a case decided by the Merit Systems Protection Board which established criteria that supervisors must consider in determining an appropriate penalty to impose for an act of federal employee misconduct. [1] [2]
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
She added employees will receive an email indicating they will be placed on paid administrative leave with full benefits on Thursday. Roughly 200 federal employees work in this division of the EPA.
1981: Each of the 12 Federal Reserve banks establishes a Community Affairs Office to offer public and private guidance in accordance with the Community Reinvestment Act. [18] [19] 1981: Salomon Brothers transitions from a private partnership to a public corporation, the first of the Wall St. investment banks to do so. This shifts the risk of ...
Credit unions are exempt from the Community Reinvestment Act, a U.S. federal law that encourages banks to provide services in low- and moderate-income areas. [ 34 ] In 2006, U.S. credit unions approved 69% of mortgage applications they received from low- and moderate-income individuals, while other U.S. mortgage lenders approved only 47% ...