Community Reinvestment Act Of 1977

Law passed by Congress in 1977 requiring banks and other depository financial institutions to help meet credit needs of the community in which the bank or financial institution is chartered and operating in. These include meeting the credit needs of low to moderate income neighborhoods, provided that they had safe and consistent operations. A bank's or depository financial institutions' compliance with the community reinvestment act is taken into consideration when a bank or depository financial institution desires to expand and build new bank branches or in mergers and acquisitions. The community reinvestment act does not specifically list any civil or punitive damages and does not list specific criteria for evaluating the performance of a financial institution. Rather, the community reinvestment act may be taken into consideration in conjunction with the equal credit opportunity act that does list specific civil and punitive damages for discriminating credit applicants based upon their race, color, religion, national origin, sex, marital status or age.

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Stable Value Fund

Categories: Mutual Funds, Retirement and Pension,

1. An investment option typically offered in retirement plans by employers or IRAs that are composed of guaranteed investment contracts, fixed-income funds, or capital-preservation funds. This is a popular investment vehicle for individuals nearing retirement because of stable interest and principle payments on these contracts. The returns from a stable value fund are secure, but can be small compared to other investments. A stable value fund should not be the only investment vehicle in the portfolio of an individual who has a long time until retirement. 2. A type of mutual fund that is regulated by the Department of Labor instead of the securities and exchange commission, which typically oversees mutual funds. Stable value funds are similar to bond funds, but they have insurance against principal losses. Money invested in stable value fund is combined with other cash infusion and used to purchase secure contracts from banks or insurance companies. These contracts include a guaranteed regular rate of return over the course of the contract.

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Community Reinvestment Act Of 1977

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Stable Value Fund

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