As these agreements become increasingly popular, more and more banks recognise the value of cooperation with the Community in order to improve services and facilities in underserved markets. Bank CBAs benefit from the Community Reinvestment Act (CRA), a long-standing federal policy designed to encourage banks to meet the needs of low- and low-income neighborhoods. The CRA was adopted in 1977 to combat redlining – a destructive and discriminatory credit practice that denied or severely limited access to mortgages, credit, and other financial resources needed to spur economic growth in communities of color. „The CRA has certain pressure points where municipalities have the opportunity to meet their needs,“ said Thomas Keily, consumer data and research coordinator at the Western New York Law Center, one of the NCRC members at the base who participate in KeyBank CBA. Mergers, acquisitions and CRA audits are intervention points where banks are ready for regulatory review and may be ready to negotiate with supporters of the Community. „This substantial and detailed community development plan was the result of a collaborative process with community members and bank managers,“ said NcRC President and CEO John Taylor. „We applaud President and CEO Greg Carmichael and Fifth Third executives who, after making a significant commitment to the Community earlier this year, have been ready and willing to engage ncrc and its member organizations in important discussions to ensure that the commitments made have occurred in areas that most need the Community and that their bank and Communities be strictly responsible, They have been set up. Financial institutions have a long history of failing to meet the needs of low-income communities and communities of color, whether through discriminatory practices that take wealth away from colorful neighborhoods or through systematic divestment that has left too many fighting communities without access to affordable banks. „NCRC did Yeoman`s job of bringing everyone together,“ Crosby said. . .