FDIC’s Bair Sets to Shatter CRA Myth

12/5/2008 FDIC’s Bair Sets to Shatter CRA "Myth; 12/3/2008 The Community Reinvestment Act and the Recent Mortgage Crisis by Randall Kroszner Rushmore Loan Management receives GSE approvals Management’s Discussion and Analysis of Financial Condition. our consumer-oriented business model through the origination of one- to four-family mortgage loans.

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WASHINGTON, March 16 (Reuters) – U.S. bank regulator Sheila Bair told a group of bankers on Wednesday that for their own good they need to embrace industry changes and the new financial reform law.

 · October 2008 archives. bubble weren’t even banks subject to the Community Reinvestment Act, the main vehicle that the feds used to cajole banks to loosen their lending.. an entire new set.

"I want to give you my verdict on CRA: NOT guilty," said. Federation of America, Bair said Thursday she wanted to clear up the "myth" that the Community Reinvestment Act caused the financial crisis.

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3/1/2009 Did the CRA cause the mortgage market meltdown? by Neil Bhutta and Glenn Canner "On balance, the evidence runs counter to the contention that the CRA lies at the root of the current mortgage crisis." 12/5/2008 FDIC’s Bair Sets to Shatter CRA "Myth; 12/3/2008 The Community Reinvestment Act and the Recent Mortgage Crisis by Randall Kroszner

Community lenders baffled to see major trade groups push Wall Street agenda Major trade groups urge Congress to renew two major homeowner tax provisions community groups, lenders call for Fannie, Freddie to stop paying dividend to Treasury Ben Lane is the Editor for.

 · [/SIZE][/SIZE]Along with Fannie Mae and Freddie Mac, the Community Reinvestment Act has been fingered by a number of critics–mainly from the right–as a key cause of the financial crisis. But in a speech Wednesday, FDIC Chairman Sheila Bair–a Republican–called such logic a "myth." CRA.

– Nowhere.’ The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices." (FDIC’s Bair Sets to Shatter CRA "Myth", by Kelly Curran, HousingWire.com, December 5, 2008.)