A Community Benefits Agreement (CBA) is a document some banks create with cities they do business with in order to get CRA credit. It’s basically a list of promises the bank makes to the community agreeing to give back a certain amount of money in a set time frame or to create more fair lending and banking practices. Although valuable when honored, CBAs are not legally enforceable agreements, leaving many banks free to make promises for publicity they don’t follow through with.
The BNCRC advocates for and monitors existing CBAs to ensure our community receives the dedication and commitment it deserves. We work with local institutions to advocate for fairer policies, better products and services, and to support the community in order to make banking and financial success an achievable reality.