Archive for the ‘Fed-Speak’ Category
Kroszner - Brookings, Regional Fed Community Reinvestment Act study definitively shows CRA not responsible for Sub-Prime Crisis
Wednesday, December 3rd, 2008Community Reinvestment Act requires Commericial, Thrifts to lend in under-served areas
Wednesday, December 3rd, 2008The CRA has been around for thirty years and has lately been blamed for igniting the Sub-Prime Mortgage Crisis. Banks and some policy makers contend that lending in low-income areas is a root cause of the mortgage meltdown. The Study, conducted by Regional FED banks and the Brookings Insitutute finds nearly the opposite conclusion.