NYC’s Super CRA Law Overturned

In 2012, New York City passed a law that was like the Community Reinvestment Act on steroids, requiring banks to provide extra information on their small business lending, efforts to prevent foreclosures, affordable housing lending, and branches in low-income communities. A U.S. District Judge has just overturned it, calling the law's structure an attempt to secure "compliance through the public shaming of banks." [8/11/15]