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Community Development in LMI Tracts

Question: 
Does a "community development" loan or investment have to be in a low- or moderate-income tract?
Answer: 

There are 4 different qualified purposes for community development under the CRA. Only the last purpose, "revitalization/stabilization," requires an activity (loan, investment, or service) to be located within LMI tracts. Interested in our FREE Community Development reports?

Vendor: 

GeoDataVision combines the power of the nation’s top CRA and Fair Lending experts with the power of the most sophisticated mapping and data technologies available to provide financial institutions with a leg up when it comes to regulatory compliance. Being wrong is simply not an option, work with the best, work with GeoDataVision. Request a demo, check out our FREE resources, or talk to one of our experts at (203) 907-7497

First published on 10/23/2022

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