Word: cra
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...short, we have entered the cra of non-material materialism. What's for sale is not the action, but the reaction: not the goods, but the good felling: not the product, but what it produces in you. Insofar as there is something for sale, it doesn't matter how much it costs or whether it's better than others of its kind. In fact, it the product doesn't even have to be shown in the advertisement. All that matters is the mood, the intangible, the emotion...
...referendum also proposes that the city strengthen the Community Reinvestment Act (CRA), a 1977 measure encouraging banks to put funds back into the community by financing loans, by boycotting banks that do not comply with CRA. "The CRA has had a positive effect by encouraging banks to reinvest," says Michael Rosenberg, housing director for the city's Community Development Department. But he explains that some buildings just do not meet bank criteria for loans. "The CRA doesn't change these criteria, and the city can't force the banks to do anything...
After more than an hour of debate, the Council postponed consideration of the jobs issue for two weeks, pending a formal report on the matter from City Manager Robert Healy and the Cambridge Redevelopment Authority (CRA), a quasi-independent agency which manages the Kendall Square land for the city...
John F. Tulimieri, executive director of the CRA, said he sympathized with Graham's concerns but that it would be impossible to have such a plan because of industry resistance...
...CRA requires banks to meet investment needs in their communities, including home mortgages and business loans. The witnesses accused the FNBC of "red-lining" many areas by denying individuals loans because they live in certain low and lower middle income communities. FNBC is the largest bank in Massachusetts...