Episode 86: The Illinois Community Reinvestment Act

In our latest episode of Making Cents of Money, Acting Director of Banking Susana Soriano discusses Illinois’ historic Community Reinvestment Act (CRA). From reducing discrimination to combatting redlining, learn how this landmark legislation will help Illinois consumers! Show Notes: • Please note, this podcast was recorded before rules for Illinois’ Community Reinvestment Act were adopted on May 1, 2024. The rules may be found below: o Banks: https://idfpr.illinois.gov/content/dam/soi/en/web/idfpr/forms/CRA-Banks.pdf o Credit Unions: https://idfpr.illinois.gov/content/dam/soi/en/web/idfpr/forms/CRA-CU.pdf o Mortgage Lenders: https://idfpr.illinois.gov/content/dam/soi/en/web/idfpr/forms/CRA-ML.pdf • Legislation for the Illinois Community Reinvestment Act: https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ChapterID=20&ActID=4086 • Illinois CRA Coalition Fact Sheet: https://housingactionil.org/downloads/Policy/ILCRAOverviewMarch2023.pdf