Refining Reinvestment: The Impact of the 1995 Community Reinvestment Act Enhancements on Minority-Owned Businesses

Refining Reinvestment: The Impact of the 1995 Community Reinvestment Act Enhancements on Minority Owned Businesses munity. The Community Reinvestment Act of 1977 (CRA) encouraged financial institutions to meet the particular needs of minority borrowers formerly affected by redlining and other pernicious practices. CRA was modified in 1995 to improve financial institutions' compliance with CRA regulations. Previous studies focused on CRA's role in improving homeownership opportunities among minorities, with little research dedicated to the Act's role in improving credit access for small businesses. This study analyzed the impact of increased CRA monitoring on the growth of minority owned small businesses nationwide.