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CRA/LA, A DESIGNATED LOCAL AUTHORITY (Successor Agency to the Community Redevelopment Agency of the City of Los Angeles, CA) MEMORANDUM4DATE:AUGUST 2, 2018TO:GOVERNING BOARDROOM:STEVE VALENZUELA CHIEF
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Crala stands for Community Reinvestment Act Local Activities, and it is a designation for financial institutions that engage in community development activities.
Financial institutions that are designated as crala designated locals are required to file.
To fill out crala a designated local, financial institutions must provide information on their community development activities and impact.
The purpose of crala designation is to encourage financial institutions to invest in their local communities and support community development efforts.
Financial institutions must report details of their community development activities, including the amount invested and the impact on the community.
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