“CRA was created to undo the injustices created by the horrific practice of redlining and its modernization effort must center the people, families, and communities most harmed by it. Unfortunately, today far too many underserved LMI communities remain credit starved,” said Bailey. “The fundamental goal of any new reform must be to ensure that hardworking families, including families of color, have access to sound and affordably priced credit, safe and responsible mortgages, small dollar consumer credit, and auto loans.”

What happens over the coming months will reveal whether access to sound and affordably priced credit remains a wish or becomes a reality.