California AB2214 establishes a Community Reinvestment Account to fund lending for small businesses, first-time homebuyers, and affordable housing in.

California AB2214 creates a Community Reinvestment Account within the Local Agency Investment Fund to support lending activities. The account prioritizes Minority Depository Institutions, Community Development Financial Institutions, and community banks serving low-wealth areas. Funds are allocated for silent second lien disaster mortgages, down payment assistance for first-time homebuyers, and lines of credit for small businesses in underserved census tracts.

California AB2214 establishes a Community Reinvestment Account to fund lending for small businesses, first-time homebuyers, and affordable housing in.

California AB2214 creates a Community Reinvestment Account within the Local Agency Investment Fund to support lending activities. The account prioritizes Minority Depository Institutions, Community Development Financial Institutions, and community banks serving low-wealth areas. Funds are allocated for silent second lien disaster mortgages, down payment assistance for first-time homebuyers, and lines of credit for small businesses in underserved census tracts.