Financial Modernization Law Shrinks CRA Ratings Base
January 15, 2001
Culprit: GLB Act A dramatic shift in the Community Reinvestment Act examination cycle resulting from the 1999 enactment of financial services modernization legislation has shrunk the number of institutions evaluated for CRA compliance in 2000 by 54.4 percent, compared to the total number of institutions examined in 1999, according to Inside Mortgage Compliance’s year-end analysis of CRA ratings.