Anti-Crime Loans Buy Seniors Karaoke as Banks Reap Credit
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With enthusiastic endorsements from top U.S. financial regulators, a Memphis, Tennessee-based organization has signed up 250 banks in 47 states to fund a program dedicated to fighting crime in nursing homes.
In return, the Senior Housing Crime Prevention Foundation promises the banks will earn “risk-free” credit for complying with the Community Reinvestment Act, the federal law requiring them to bolster the economies of low-income neighborhoods.