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State to aid flood moneylenders

Helpful banks to get reinvestment points

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Communities that are planning to rebuild following destructive storms over the past two years should find it easier to borrow money, thanks to a new state incentive for local banks. Gov. Andrew Cuomo is estimating more than $3 billion of private investment should be freed up by banks looking to share in credits through the federal Community Reinvestment Act, or CRA. Enacted in 1977, the CRA was developed to encourage local lenders to invest in ...

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