Bank Reinvestment

ANHD is among the most effective local bank reinvestment activist organization in the country. We take a comprehensive research and activist approach to encourage local banks to fully meet the credit needs of local neighborhoods and comply with the federal Community Reinvestment Act (CRA). Each year, ANHD produces the influential State of Bank Reinvestment in New York City report, which uses original data to demonstrate the impact of the Community Reinvestment Act (CRA) at a very local level.  This report documents the major trends in reinvestment among 24 of the largest banks in New York City and our recommendations for banks and regulators.  The report compares the volume of reinvestment activity for each major institution in the city, as well as a relative quality score of additional factors that have an impact beyond the dollar amount.

ANHD was part of the social movement that led to the passage of the CRA and we have seen the enormous benefits that the law has brought to our city, including over 300,000 units of affordable housing that were financed with public subsidies leveraging private bank investments that were produced as a direct result of the CRA. The CRA states that banks have an affirmative obligation to help meet the credit needs of the low- and moderate-income neighborhoods in which they do business, consistent with safe and sound business practices.

ANHD has a deep appreciation of both the need for and the benefits of effective bank reinvestment and government policies that hold banks accountable to help meet the credit needs of our at-risk communities.  Banks receive significant taxpayer-backed public benefits from the federal government. These benefits must come with the understanding that banks will provide their services equitably in the communities in which they operate.  New York City differs county by county and even block by block.  ANHD believes that reinvestment is most effective if the bank has a clear understanding of the local issues and needs of individual communities and how the bank’s reinvestment activity will address them.

Click HERE for details & updates on this project
Click HERE for ANHD’s 2014 CRA & Economic Development Report
Click HERE for ANHD’s latest Bank Reinvestment Report
Click HERE for ANHD’s Bank Report data chart
Click HERE for ANHD’s Bank Report chart of reinvestment indexes

ANHD’s Bank Reinvestment Activity includes:

• State of Bank Reinvestment in NYC – Annual report that uses original bank-reported data to analyze the community development activity among 24 of the largest banks in the City.
• Community Reinvestment Act (CRA) engagement.  ANHD routinely submits comments on bank CRA exams and works with member organizations to enforce the CRA during and between exam periods.
• The Responsible Banking Act (RBA).  ANHD members’ campaign won passage of the NYC Responsible Banking Act in 2012, which helps make sure banks are meeting local community needs.  Click HERE to download ANHD’s guide for communities on gaining CRA  support from banks