Digital Equity Resource

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Community Re-investment Act (CRA)

NCDE has pioneered pilot efforts and capacity building initiatives that have enabled banking leaders to begin earning credit under the federal Community Reinvestment Act (CRA) for removing digital divide barriers to economic opportunity by, for example, investing in improved access for LMI individuals, families and communities to broadband, devices, tech and librarian support, and related digital equity essentials. Banks annually spend over $480 billion to meet their CRA requirement to support economic opportunity in LMI areas in their service region. NCDE’s “One Percent for Digital Equity” campaign seeks to persuade banking leaders to voluntarily commit up to 1% of their CRA resources for digital equity in support of systemic (financial, economic and educational) inclusion, which would unleash eventually close to $5 billion each year to narrow the nation’s vexing digital divide.

Organization:  National Collaborative for Digital Equity (NCDE)

Category:  Funding

Audience:  Educators, Funders, Libraries, Non-profits

Web Link:  https://www.ffiec.gov/cra/

Contributor: Dr. Robert McLaughlin, NCDE Executive Director

Contributor Link: http://digialequity.us