This project will prepare a cohort of local leaders, hosted by neighborhood-based organizations, to advocate for neighborhood-driven community reinvestment. The Community Reinvestment Act (CRA) requires banks to meet the credit needs of the low- and moderate-income communities they serve through loans, investments, products, and services. CRA enforcement relies on the community to communicate its credit needs and proposed solutions to financial institutions and federal regulators. Neighborhood-based organizations often lack the knowledge, skills, access, and relationships to successfully leverage CRA. This program will develop 4-10 neighborhood-based CRA advocates through training on reinvestment organizing and best practices in wealth building. Collectively, Fellows will conduct a community-led credit needs assessment to develop proposals for products, services, and investments. This assessment will be used to encourage financial institutions to make reinvestment commitments.
Maryland Consumer Rights Coalition
Baltimore Community Development Fellows
Consumer Financial Education Fund, 2019