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COMMUNITY REINVESTMENT ACT FOR BLACK & LATINOS
SEEKING
Equity
FOR BLACKS & LATINOS IN BALTIMORE
· ADDRESSING THE RACIAL WEALTH GAP ·
driving impact
CRA Baltimore is a coalition committed to ensuring that Baltimore City and all Black and Latino communities receive their fair share of CRA investments from the top banks in their region. We serve as the watchdog group that holds those banks accountable, while providing community development opportunities and resources to enhance communities of color.
CRA Baltimore holds banks accountable, ensuring Black and Latino communities receive their fair share of CRA investments.
We are committed to upholding the CRA of 1977 by setting aside funds for greater investment into Black and Latino communities based on 4 main pillars.
Connect to helpful documents and community links to provide additional access to capital/funds for your organization or individual homeownership needs.
Are you a small business, prospective homeowner, or a community organization and want to know how the CRA affects you? Contact us.
Seeking a $30 Billion Investment from the top banks in Baltimore City
· SMALL BUSINESS ·
· HOME OWNERSHIP ·
· HOUSING DEVELOPMENT ·
· BUILDING CAPACITY ·
providing access
Understanding the Need
Due to years of systemic racial inequities starting at the federal level, Black and Latino groups have been pushed to living in low-income, high-risk neighborhoods in Baltimore and other cities throughout the nation.
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In Baltimore, Blacks have a median household income that is 54% of that of Whites. The small Latino community in Baltimore has 70% of the income of Whites.
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Black and Latino communities have been getting the short end of the financial stick leaving their interests unaddressed and voices unheard.
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Systems like "redlining" prevented Black families from financing home purchases by outlining Black neighborhoods in red on government maps. Entire neighborhoods were considered poor credit risks and thus were not eligible for federally-insured mortgages. Black families turned to contract sales and other high-cost, risky financing sources (a single missed payment could mean losing a home).