The federal Community Reinvestment Act (CRA) requires banks to invest and provide services in low- and moderate-income communities. But a recent report by a local housing group shows a sharp drop in CRA activity in 2007 and 2008.

Home construction plunged last month to its lowest level of the year since December.

The New York City Housing Authority (NYCHA) will receive hundreds of millions of dollars to rehabilitate 20,139 units in 21 public housing developments.