New York Extends CRA Requirements to Nonbank Mortgage Companies

Banking Dive, Nov. 2, 2021–Robin Bradley
New York Gov. Kathy Hochul signed a bill Monday to expand the New York Community Reinvestment Act to nondepository mortgage lenders. The legislation aims to slash redlining in the Empire State and expand equal access to credit. New York joins Illinois and Massachusetts in applying CRA requirements to nonbank lenders.