Goldman Sachs receives ‘outstanding’ rating for helping community

Adheres to Community Reinvestment Act

According to The Wall Street Journal, Goldman Sachs (GS) has efficiently adhered to the Community Reinvestment Act, scoring points with regulators after loaning $41 million to a Citigroup (C) bike program.  

Goldman Sachs's total marks a 32% increase from the Wall Street firm's commitments from the last review, which covered June 2008 to September 2010.

The Federal Reserve Bank of New York and the New York Department of Financial Services recently awarded the firm a top rating of "outstanding" for its commitments to the Community Reinvestment Act, or CRA. Among those singled out by state regulators: Goldman's loan to the Alta BikeShare unit that operates New York City's bicycle program. Citigroup, which paid for the naming rights to the bicycle program, declined to comment.

3d rendering of a row of luxury townhouses along a street

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