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What counts as "community development" under CRA?

Question: 
What counts as "community development" under CRA?
Answer: 

There are 4 types of financing activity that count as community development under CRA including, (1) affordable housing, (2) community services, (3) small business loans for economic development and (4) revitalization or stabilization of LMI tracts or the new underserved, distressed or disaster area tracts. Don't overlook "areas targeted for development by federal, state, local or tribal government too!

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First published on 01/15/2007

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