The Validity of Objections to Side-line the USA-based Community Reinvestment Legislative Model in South Africa

Maphuti Tuba
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Abstract

This article discusses the adoption and the eventual side-lining of the Community Reinvestment (Housing) Bill (CRHB) in South Africa, which is based on the United States of America’s Community Reinvestment Act of 1977 (CRA), as a measure to prevent various patterns of redlining in South Africa. It identifies continuing allegations of redlining by financial institutions. It further questions whether the Financial Sector Charter, which was voluntarily agreed upon at the National Economic Development and Labour Council (NEDLAC), and the Financial Sector Code, are effective in preventing redlining and the impact of financial exclusion of low-income households. The article discusses several reasons and objections to side-line the CRHB by comparing the context within which the CRA was applied in the USA and the South African context within which a similar legislation will be applied. This article asks whether these objections are still valid and whether the Financial Sector Charter and the Financial Sector Code are effectively enforced to prevent redlining.
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反对南非采用美国社区再投资立法模式的有效性
本文讨论了南非根据美国 1977 年《社区再投资法》(CRA)制定的《社区再投资(住房)法案》(CRHB)的通过和最终被搁置的问题,该法案是南非防止各种红线模式的一项措施。报告指出,不断有指控称金融机构进行重新排序。文章还质疑国家经济发展和劳工理事会(NEDLAC)自愿商定的《金融部门宪章》和《金融部门守则》是否能有效防止对低收入家庭的重新排序和金融排斥的影响。本文通过比较美国适用《资本管制法》的背景和南非适用类似立法的背景,讨论了支持《民事登记和住房法》的若干理由和反对意见。本文提出的问题是,这些反对意见是否仍然有效,《金融部门宪章》和《金融部门守则》是否得到有效执行,以防止 "红名单 "制度。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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