Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Community Reinvestment Act (CRA)

Administering Agency/Entity Federal Financial Regulators (Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency) and the Federal Financial Institutions Examination Council (FFIEC)
Short Description Encourages depository institutions to help meet the credit needs of communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations. CRA requires that regulators periodically evaluate each insured depository institution on its record of meeting community credit needs. FFIEC helps promote uniformity.
Primary Purpose Regulatory requirements
Type of Housing Supported Both
Type of Assistance Regulation
Fiscal Year 2010 Obligations Federal financial regulators do not quantify or track costs separately for the housing related aspects of CRA. Obligations in calendar year 2010 for FFIEC were $13 million; of this amount, approximately $1 million were related to costs associated with the processing, aggregation, and reporting of CRA data. Funding for the FFIEC is derived from assessments on its five federal member agencies.

(Return to main page)

(Return to program listing)