In historic Faneuil Hall on August 2nd, Boston's City Council unanimously passed an ordinance creating a committee to recommend proposed investments, nine months after voters approved the Community Preservation Act (CPA) by a nearly 3 to 1 margin.
New MAHA Report on 2016 CRA Ratings Released; Quicken Loans Still Without A CRA Rating
January 23, 2017 - Of the 50 Community Reinvestment Act ratings awarded to Massachusetts banks during 2016, only 10% were “Outstanding", according to a report issued today by the Massachusetts Affordable Housing Alliance (MAHA). It is notable that all five of the “Outstanding” ratings were among the seven total ratings awarded by the OCC; not a single “Outstanding” rating was awarded by the FDIC, the Fed, or the state. For federal regulators, the “Outstanding” share was 16.7% (5 of 30 ratings); for the state, the “Outstanding” share was 0.0% (0 of 20).