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7th Annual Open Government Summit: Access To Public Records Act & Open Meetings Act, 2005, Department Of Attorney General, State Of Rhode Island Aug 2005

7th Annual Open Government Summit: Access To Public Records Act & Open Meetings Act, 2005, Department Of Attorney General, State Of Rhode Island

School of Law Conferences, Lectures & Events

No abstract provided.


Credit Where It Counts: The Community Reinvestment Act And Its Critics, Michael S. Barr Jan 2005

Credit Where It Counts: The Community Reinvestment Act And Its Critics, Michael S. Barr

Articles

Despite the depth and breadth of U.S. credit markets, low- and moderate-income communities and minority borrowers have not historically enjoyed full access to credit. The Community Reinvestment Act (CRA) was enacted in 1977 to help overcome barriers to credit that these groups faced. Scholars have long leveled numerous critiques against CRA as unnecessary, ineffectual, costly, and lawless. Many have argued that CRA should be eliminated. By contrast, I contend that market failures and discrimination justify governmental intervention and that CRA is a reasonable policy response to these problems. Using recent empirical evidence, I demonstrate that over the last decade CRA …