Closing the Digital Divide: A Framework for Meeting CRA Obligations

The Community Reinvestment Act (CRA) provides a significant opportunity to help close the digital divide across communities while simultaneously benefiting financial institutions and improving economic stability. The CRA is a law that encourages banks to make loans and investments and provide services to low- and moderate-income communities. The law was passed in 1977 to address redlining—the denial of credit to individuals based on where they live. Every year, the CRA helps bring more than $100 billion in capital to LMI communities across the country. The law is intended to be broad, flexible and responsive to changes within communities.

This publication seeks to highlight best practices and “what works” to provide a roadmap for successful lending, service and investments to close the digital divide for LMI families and rural communities. Moreover, this framework provides clear evidence of how investments in broadband can improve the lives of individuals and can help create an inclusive and vibrant entrepreneurial economy.