Congress just passed Wall Street Reform – it’s a good first step and will help prevent the banks and Wall Street from causing another economic disaster like the one we’re all living through now.

But, the Wall Street Reform bill won’t do much to fix the mess of foreclosures, job losses, abandoned buildings and bankrupt state and city budgets that the banks left behind. 

Community investment will fix the mess and keep our economy strong for everyone.  Big Banks must be directly accountable and follow the rules of the road.  Right now, those rules are under consideration and we have an opportunity.

National People's Action and others have called on the bank regulators to make sure banks are graded with real accountability and fairness, that they end financial discrimination, and serve the credit needs of our communities with good, quality credit.

About the Community Reinvestment Act:

Banks have a legal responsibility to fix the mess and get back to the business of building up America by investing in all our neighborhoods.

The Community Reinvestment Act is the law that spells out that responsibility:

• It’s about what banks do with our money
• It’s about them rebuilding what they destroyed
• It’s about jump-starting and sustaining the economy and job market
• It’s about helping rebuild wealth in America’s cities, towns and rural communities and families

National People's Action demanded that bank regulators (i.e. bank cops) begin to update the rules that make community reinvestment work. They heard our call and are holding hearings around the country and taking comments this summer to find out how to best update the law. * Watch the video:

Banks must invest in our communities and get America moving forward again. But, they will be telling the regulators to leave the law alone or weaken it.

It's time to fight for reinvestment in our jobs, homes, and neighborhoods.  Attend a Community Reinvestment Hearing in your area.

August 6, 2010 - Atlanta, Georgia
Federal Reserve Bank of Atlanta
1000 Peachtree Street Northeast

August 12, 2010 - Chicago, Illinois
Federal Reserve Bank of Chicago
230 South La Salle Street

August 17, 2010 - Los Angeles, California
Los Angeles Branch of the Federal Reserve Bank of San
Francisco
950 South Grand Avenue