Testimony of Barry Zigas before the Interagency Public Hearing on CRA Regulation

The CRA has been an important element in assuring that all households have access to safe and affordable credit. When it was originally adopted in 1977, the notion that all lending institutions that take deposits from communities should have an obligation to provide those communities with a full range of credit services was not universally accepted. But today, after many years of work by community organizations, regulators, lenders and others, this should not be a controversial position.