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Racial justice advocates have been demanding for years that federal banking regulators use their authority under the Community Reinvestment Act (CRA), enacted in 1977, to assess whether banks are meeting the credit needs of all racial groups equally. Regulators ultimately did not meet that demand under the new CRA rules and regulations issued on October 24, but there is still a lot to talk about. Under the existing rules, banks get CRA credit for $300-$400 billion a year in loans made to low-to-moderate income households or in low-to-moderate income communities across the country. That’s a higher annual spending than HUD or the Department of Transportation or the Department of Education. Those billions of CRA-qualifying loan dollars include loans for single-family and multi-family residences, small businesses, small farms and community development. After several years and now two White House administrations, the newly updated (but still race-neutral) rules and regulations w