Agencies Propose Change to CRA Regulations to Encourage NSP Support

In response to the pressing need to provide housing-related assistance to stabilize communities affected by high levels of foreclosures, the federal bank and thrift regulatory agencies recently announced a proposed change to the Community Reinvestment Act (CRA) regulations. This change, the agencies said, would specifically encourage depository institutions to support the Neighborhood Stabilization Program (NSP) administered by HUD.

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