Government should help underwrite bank investment in poor communities

The Clinton administration's $850 million bank community reinvestment proposal signals a positive change in the federal government's approach to community development investing, but there are several additional ways the government could make such investments more attractive to banks. Econo...

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Bibliographic Details
Published in:The American banker 1993-03, Vol.158 (59), p.4
Main Author: Friedman, Marilyn F
Format: Article
Language:English
Subjects:
Bank investments
Banking industry
Community relations
Investments
Laws, regulations and rules
Online Access:Get full text
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Summary:The Clinton administration's $850 million bank community reinvestment proposal signals a positive change in the federal government's approach to community development investing, but there are several additional ways the government could make such investments more attractive to banks. Economic assistance should be made available to community groups in the early stages of planning their projects, and banks should be encouraged to work together on financing such projects.
ISSN:0002-7561
1945-578X