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Posted on 08/01/2026 4:28:26 AM PDT by DFG
Trump administration bank regulators moved Friday to close what one nonprofit consulting firm has advertised as the “CRA Goldmine,” curbing the ability of left-wing advocacy groups to use an anti-redlining law to pressure banks for donations.
Community organizations can challenge a bank’s record under the Community Reinvestment Act when it seeks approval for a merger, acquisition or new branch. The prospect of a poor CRA grade, which can delay or derail those plans, has given activist groups leverage to press banks for grants and other financial commitments.
Bridge Philanthropic Consulting, which advises nonprofit organizations on fundraising, has promoted the system in a guide titled “The CRA Goldmine: How Your Nonprofit Can Unlock Millions in Bank Funding.”
The proposal from the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. wouldn’t stop banks from donating to advocacy organizations. It would limit when those donations help a bank’s CRA rating, weakening the regulatory leverage activists can use to extract them.
The proposal from the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. wouldn’t prevent banks from donating to advocacy organizations. It would limit when those donations help a bank’s CRA rating, reducing the regulatory leverage activists can use to extract them.
Banks seeking CRA credit for grants and donations would have to show that the money directly supports a specific community-development program in the local area and isn’t merely funding activism.
The changes are intended to ensure that bank grants aren’t diverted to “activist causes or consumed by excessive operating costs,” the agencies said in a summary of the proposal.
The CRA, enacted in 1977 to combat redlining, requires regulators to assess how well banks meet the credit needs of the communities where they operate, particularly low- and moderate-income neighborhoods.
(Excerpt) Read more at breitbart.com ...
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Wow! What an incredible extortion scam, set up by the government and regulators.
No clear law; just satisfy the leftist groups or no business for the bank in new areas.
Clearly the “rule by man” not a “rule of law”.
Insane. In a way, it is a variation of the “sue and settle” we have seen so much of with the EPA and the Endangered Species Act.
Thanks to Jimmy Carter. The mandates of the CRA along with the banks being able to bund;e bad loans into one package, led to the recession of 2008.
How innately leftists resort to extortion.
Al Capone would be jealous.
What the old mafia did was chump change compared to what the new mafia is doing.
When one bank robber was asked (Roaring 20s or depression '30s) why he robbed banks, he said "because that's where the money is."
Nothing has changed, just methods.
One hell of a racket they got there
I think this is how Obama got his start as a community organizer.
Program in the local area and isn’t merely funding activism.
Kickback dealers hit hardest good deal.
When people aren’t prosecuted for blackmail, the blackmail will continue.
God put Trump in the White House to stop commies from taking over the country.
“Wow! What an incredible extortion scam, set up by the government and regulators.”
Hundreds of billions in grift funded by the US government. Unfortunately GOP members of Congress have facilitated this funding mechanism for left wing advocacy groups by failing to oppose strict controls over regulatory agencies. In addition they acquiesce to the huge omnibus spending plans prepared by staff and passed in the wee hours of the night to prevent or end government shutdowns.
Ending the grift a waste can dramatically impact the deficit. Unfortunately our Congress critters are beneficiaries of the system. They campaign against waste and fraud. Then, once elected vote for it.
Leftist make themselves feel good, and righteous, by taking from taxpayers and giving it to themselves and “those in need”. The idea of the “deserving poor” only exists for these types in that “deserving” is equated to non-white and non-male/non straight people.
Check the regulators bank accounts. This is straight up fraud.
jesse jackson’s grift
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