Federal Reserve Governor John LaWare said bankers should regard the Community Reinvestment Act as a fixture in U.S. banking and one that is good for business.

"Making loans back into the community from which bankers draw deposits is a natural phenomenon and good business," Mr. LaWare said in a speech prepared for a community investment workshop Friday in Bloomington, Minn.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.