Regulators review the adequacy of the bank lending.
Washington, D.C., has had its share of loans into poor communities which some attribute to the CRA statute. A Washington Times article connected the law to a multimillion-dollar investment by NationsBank in the Washington View apartments in Southeast Washington. The investment transformed the housing complex from a mostly vacant, dilapidated structure to a home for many families. The investment may be good for the business of NationsBank, but it also helped the bank meet CRA requirements of the federal law. Recently the CRA has been the topic of heated dispute as Congress debated a new law permitting banks to go into new businesses.