Webinar | Strategies to Help Achieve CRA Compliance

Overview

Access to capital remains out of reach for many low-to-moderate income (LMI), and BIPOC consumers and small business owners throughout the United States. While conditions have improved (since COVID) for the LMI populations across the US, their housing and small business funding situations have not.

A recent survey (May 2021) from the Federal Bank Reserve of Kansas City showed that only 9% of respondents said credit access was improving. Many comments suggested banks still have very tight lending standards and while some banks and lenders have made great strides in helping this community there are still great strides to be made.

This session will talk about the challenges the LMI community faces as they strive to grow their business or own a home, as well as what banks and other lenders can do to help them get on the right path to financial success. We’ll look at the Community Reinvestment Act (CRA) and share strategies and plans that have helped banks to achieve CRA compliance while being impactful members of their respective communities.

This webinar covers:

• Struggles faced by the LMI community as they try to get access to funding for a new home, grow their business, or improve their life in a meaningful way.
• Roles banks of all sizes have in building stronger communities in the markets they do business in today.
• Strategies to help obtain or maintain a satisfactory or outstanding FFIEC CRA rating.
• Finding and targeting the right consumers and business owners for the products you’ve developed for the LMI residents in your respective communities.

Top 3 benefits to attendees:

1. Understand the struggles the LMI and BIPOC communities face while trying to build wealth for their family to end the poverty cycle.
2. Steps you can take to ensure your organization achieves an outstanding FFIEC CRA rating by being a better lending partner throughout the communities you serve.
3. Develop a CRA compliance and lending strategy that includes education, awareness and targeted outreach by building targeted campaigns that connect your products to the right consumers and business owners in the market.