Meaning of “the Community Reinvestment Act” in the English Dictionary

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"the Community Reinvestment Act" in Business English

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the Community Reinvestment Actnoun [ S ]

uk us

GOVERNMENT, SOCIAL RESPONSIBILITY in the US, a law that encourages banks to lend money to all types of people in the communities they do business with, including those living in poorer areas:

Laws such as the Community Reinvestment Act require banks to lend to applicants living in underprivileged areas.

(Definition of “the Community Reinvestment Act” from the Cambridge Business English Dictionary © Cambridge University Press)