Community Reinvestment Act
In the 1990s, Denis' East Harlem district contained over 800 vacant and abandoned buildings. For this reason infrastructure investment, both public and private, were a top priority.
Through his use of Community Reinvestment Act legislation, public hearings, CRA testimony throughout New York State, and advocacy on the Assembly Banking Committee, Denis persuaded banks to double their lending to home owners and small business persons in East Harlem, the Bronx, and other distressed areas throughout New York State.
Denis cemented these gains by invoking the 1975 Federal Home Mortgage Disclosure Act (HMDA), and conducting a census tract study of CRA compliance in the 68th Assembly District of East Harlem, and other underserved communities. In recognition of this work, Denis was repeatedly endorsed by The New York Times.
Read more about this topic: Nelson Antonio Denis
Famous quotes containing the words community and/or act:
“When you have come into the land that the LORD your God is giving you, and have taken possession of it and settled in it, and you say, “I will set a king over me, like all the nations that are around me,” you may indeed set over you a king whom the LORD your God will choose. One of your own community you may set as king over you; you are not permitted to put a foreigner over you, who is not of your own community.”
—Bible: Hebrew, Deuteronomy 17:14,15.
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—Elbert Hubbard (1856–1915)