Community Reinvestment Act


Definition of "Community reinvestment act"

Julia "Julie" Burkard real estate agent
Julia "Julie" Burkard, Real Estate Agent Newman Realty Inc

An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain geographic areas of a city. It is as if someone had taken a red pencil and drawn a line around the boundary of a neighborhood and said that no loans would be made in that neighborhood. Disinvestments is withdrawing funds and support of a particular neighborhood such as a riot-torn area.

 

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