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CRA Update | Flood Mitigation



It's Time to Rewrite Fair Lending Rules (Just Not Like This.)

This discusses a potential change in the 40 year old Community Reinvestment Act, which originally helped to prevent discrimination in mortgage lending by requiring that low income households were served. However, the update proposed by the Trump administration is threatening to remove the nuances that make the CRA effective. The resulting changes would set concrete numbers, which make it easy for banks, but obscure the diverse needs of communities- and, importantly, in setting a uniform standard across different types of banks, many would get away with a lower standard of accommodation that allows for segregation patterns. As Jesse Van Tol is quoted - "Making a better mousetrap doesn't get around the fact that it's a mousetrap."


Houston's Multi-Billion Dollar Bet to Survive the Next Harvey

Houston is still reeling from the devastation from Harvey, especially when considering how to move forward in adaptation. Recently enormous, $2.5 billion bond bill was up for a vote to help with critical flood prevention and mitigation projects, including the buy-outs for some of the most vulnerable homes in floodplains. This would be coupled with the $4.5 billion the federal government approved to send them this past summer. Upon review, I've seen that the bond bill was passed. It stands to be seen the role these investments will play as floods are predicted to increase.

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