Difference between revisions of "Community Reinvestment Act"
Jump to navigation
Jump to search
(→to file: Bloomberg article) |
(→to file: argument against CRA) |
||
| Line 10: | Line 10: | ||
{{links/news}} | {{links/news}} | ||
===to file=== | ===to file=== | ||
| + | * '''2012-12-20''' [[URL/to file::http://news.investors.com/ibd-editorials-perspective/122012-637924-faults-community-reinvestment-act-cra-mortgage-defaults.htm?p=full|New Study Finds CRA 'Clearly' Did Lead To Risky Lending]] "a new study by the respected {{wp/alt|National Bureau of Economic Research}} finds, "Yes, it did. We find that adherence to that act led to riskier lending by banks. [...] There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts," or predominantly low-income and minority areas." The [http://www.nber.org/papers/w18609 paper], unfortunately, costs $5. | ||
* '''2011-08-03''' [[URL/to file::http://www.federalreserve.gov/pubs/feds/2011/201136/index.html|The Subprime Crisis: Is Government Housing Policy to Blame?]]: "We find little evidence that either the CRA or the GSE goals played a significant role in the subprime crisis. Our lender tests indicate that areas disproportionately served by lenders covered by the CRA experienced lower delinquency rates and less risky lending. Similarly, the threshold tests show no evidence that either program had a significantly negative effect on outcomes." | * '''2011-08-03''' [[URL/to file::http://www.federalreserve.gov/pubs/feds/2011/201136/index.html|The Subprime Crisis: Is Government Housing Policy to Blame?]]: "We find little evidence that either the CRA or the GSE goals played a significant role in the subprime crisis. Our lender tests indicate that areas disproportionately served by lenders covered by the CRA experienced lower delinquency rates and less risky lending. Similarly, the threshold tests show no evidence that either program had a significantly negative effect on outcomes." | ||