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Community Reinvestment Act

Why We Must Modernize CRA: Assessment Areas No Longer Reflect How Banks Do Business

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

To ensure that all types of financial institutions are meeting the credit needs of their entire market area, including low-wealth communities and communities of color, the CRA assessment must be changed.

Round Two: Banks Need to Rebuild What They Broke

George Goehl | Posted 05.25.2011 | Business
George Goehl

Moving forward we need more lending activities to be covered by our community reinvestment laws. Here are three ways our community reinvestment regulations need to be modernized.

Wall Street Heaves a Sigh of Relief - Reform Not as Strong as it Should Have Been

John Taylor | Posted 05.25.2011 | Politics
John Taylor

Bad economic news has dominated the headlines continuously since at least the spring of 2007: rising foreclosures, growing job loss, dwindling college...

No End in Sight for Foreclosures in Communities of Color

Michelle Chen | Posted 05.25.2011 | Politics
Michelle Chen

As foreclosures rise, Black and Latino households find themselves struggling to climb out of a hole that is widening under systemic poverty, joblessness and state and local budget crises.

SEC Probes Goldman Sachs for Investor Fraud but Ignores Widespread Racially Discriminatory Practices

John A. Powell | Posted 05.25.2011 | Politics
John A. Powell

Until the government does a better job of encouraging sustainable and appropriate banking services and credit options to neighborhoods of color, this crisis is not anywhere near over.

Let Cities Put Funds Where They Want

Jonathan B. Mintz | Posted 05.25.2011 | Business
Jonathan B. Mintz

It is time to end the anticompetitive restrictions limiting local governments from depositing their funds in institutions that provide the greatest benefits to their residents.

Don't Blame the Dream of Home Ownership

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

Here is a fable that is making the rounds. It is a collection of half-truths and outright lies: The financial meltdown was the result of too many people pursuing the American Dream of home ownership.

New York City Moves the Money

Amy Traub | Posted 05.25.2011 | New York
Amy Traub

Is New York City climbing on board with the Move Your Money movement? Mayor Bloomberg announced the city would seek to deposit $25 million in tax dollars in neighborhood credit unions.

GOP Uses ACORN To Fight Bank Redlining Law

AP | SHARON THEIMER and PETE YOST | Posted 05.25.2011 | Politics

WASHINGTON — Conservative Republicans are capitalizing on the troubles of community activist group ACORN – ranging from charges of voter r...

Community Reinvestment Act: Did It Cause The Housing Crisis?

The Big Picture | Barry Rithholtz | Posted 05.25.2011 | Business

I've run out of patience with tired memes and discredited claims by fools and partisan. The rhetoric of those pushing nonsense on the public in an at...

Jason Linkins

Business Bloggers To Debate CRA Role In Housing Crisis For $100K | Jason Linkins | Posted 05.25.2011 | Media

Want to make a quick and dirty $100,000? All you have to do is beat Barry Ritholtz, business journalist and author of Bailout Nation in a debate.

Is the Financial and Mortgage Industry Smart Enough to Recognize the Lifeline Obama Has Thrown It?

Howard Glaser | Posted 05.25.2011 | Business
Howard Glaser

A closer look at the Obama plan reveals that the proposed overhaul is, by and large, in the best interests not only of consumers of financial products, but the financial companies themselves.

Stop the Next American Nightmare

Seth Freed Wessler | Posted 05.25.2011 | Politics
Seth Freed Wessler

We propose including racial impact assessment, a systematic review of potential racial impacts prior to the passage of new laws can help prevent the replication of long-standing and new forms of racial inequality.

Jason Linkins

Scritti Politti: March 18, 2009 | Jason Linkins | Posted 05.25.2011 | Politics

With AIG bonuses and The Wire on my mind, one place I was itching to browse out to was the Freakonomics blog, where Sudhir Venkatesh has been keeping ...

Ryan Grim

Fed Official: Don't Blame Poor People For Crisis | Ryan Grim | Posted 05.25.2011 | Politics

Minority and low-income homeowners have gotten a big share of the blame for the financial crisis. Conservative commentators argue that Democrats force...

Senate Republicans: Please Help

Sally Kohn | Posted 05.25.2011 | Politics
Sally Kohn

While conservatives would have us think that the crisis we're in is a fluke, the reality is that we have all been standing on the curb of opportunity for far too long as prosperity passed us by.

It's Time to Strengthen the Community Reinvestment Act

Rep. Eddie Bernice Johnson | Posted 05.25.2011 | Politics
Rep. Eddie Bernice Johnson

In recent months, people have blamed Community Reinvestment Act for the meltdown in the housing market, and thus, the financial crisis. Let's examine some of the real facts.

Manhattan Institute: Wrong Again on Fair Lending

Mark Winston Griffith | Posted 05.25.2011 | Business
Mark Winston Griffith

This entry is cross-posted on the DMI blog. n yesterday's New York Times, Howard Husock at the Manhattan Institute repeated the tired old argument th...

Community-Based Lending On The Rise

Chicago Public Radio | Natalie Moore | Posted 05.25.2011 | Chicago

Several Chicago lending institutions have been able to dance around the nation's financial crisis so far. They are serving low-income minority communi...

New President, New CRA

Mark Winston Griffith | Posted 05.25.2011 | Business
Mark Winston Griffith

This nation doesn't need a weaker CRA, but a re-conceived and far stronger tool in the effort to ensure ready access to quality, non-discriminatory, financial services in all communities.

Thomas B. Edsall

Conservatives Seek To Shift Blame For Crisis Onto Minority Housing Law | Thomas B. Edsall | Posted 05.25.2011 | Politics

Blame for the current economic crisis has been laid on many doorsteps, including the Gramm-Leach-Bliley Financial Services Modernization Act of 1999; ...