WebJan 8, 2024 · The CRA was based on the assumption that racist lenders denied mortgages to credit-worthy would-be borrowers, particularly minority applicants. The act initially … WebApr 13, 2024 · The Community Reinvestment Act did not cause the crisis. The Community Reinvestment Act, or CRA, is designed to address the long history of discriminatory lending and encourage banks to help meet ...

The Community Reinvestment Act - Federal Reserve Board

WebDec 13, 2011 · The Community Reinvestment Act (CRA)--which required banks to make mortgage loans to borrowers that were riskier than their normal loans--was certainly a … WebDec 20, 2012 · Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime … scys3-0

Opinion Poor Homeowners, Good Loans - The New York Times

WebFEDERAL DEPOSIT INSURANCE CORPORATION Assessment Areas Limitations to Assessment Areas: Must consist of whole census tracts; May not reflect illegal discrimination; May not arbitrarily exclude low- or moderate-income census tracts; Must include bank’s main office, branches, and deposit-taking ATMs; and Must include areas … WebFeb 13, 2008 · The Community Reinvestment Act. Chairman Frank, Ranking Member Bachus, and members of the Committee, I want to thank you for this opportunity to discuss the Community Reinvestment Act (CRA). Enacted in 1977, the CRA states that federally insured banks and thrifts have an obligation to help meet the credit needs of the … WebNov 10, 2009 · Officially known as the Banking Act of 1933, it was one of the landmark pieces of legislation associated with Franklin Roosevelt’s New Deal. The measure established the concept of deposit insurance and set up the Federal Deposit Insurance Corporation to provide it. pdsa worming tablets