We have a rare opportunity to shape a critical new oversight system in Illinois.
Right now, rules are being made that will determine how strong of a tool the Illinois Community Reinvestment Act (IL CRA) will be for building a fair, inclusive system of lending and investment that meets the needs of low- and moderate-income Illinoisans, especially people of color.
The IL CRA, signed into law last spring, compliments the federal CRA by providing oversight for state-regulated financial institutions. With this legislation, Illinois became the second state with an oversight system to ensure that residents are equitably served by all three major segments of the credit and mortgage lending markets: state-chartered banks, state-chartered credit unions, and state-licensed mortgage companies. Read our IL CRA overview »
Please have your organization sign on to the Illinois CRA Coalition’s recommendations for implementing this critical new law and making the IL CRA into an effective tool to increase financial inclusion for all communities.
We'll be accepting organization signatures until 5:00 p.m. CT on Wednesday, March 15, 2023.
Read the IL CRA Coalition comment letter »
This letter was drafted by Housing Action Illinois and Woodstock Institute on behalf of the Illinois CRA Coalition. Feel free to reach out with comments or questions to Jane Doyle at jdoyle@woodstockinst.org or James Miller at james@housingactionil.org.
Please complete the form below to sign the letter as an organization or as an elected official.
Individuals are encouraged to use our letter as a template and submit your comments via this easy-to-use comment portal »
Thank you!
