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Full-Text Articles in Law
The Community Reinvestment Act: Questionable Premises And Perverse Incentives, Vincent D. Rougeau, Keith N. Hylton
The Community Reinvestment Act: Questionable Premises And Perverse Incentives, Vincent D. Rougeau, Keith N. Hylton
Journal Articles
Having just passed the twentieth anniversary of the enactment of the Community Reinvestment Act ("CRA" or "Act"), this is an appropriate time to take stock of the effectiveness of the legislation and to consider whether it continues to be useful as a tool for addressing the problems of neighborhood decline and discrimination in the lending market. Although discrimination in lending and the decline of certain inner-city neighborhoods is a problem that the CRA has not been able to solve, most observers would agree that the situation has improved since the mid-1970s. In particular, there has been notable progress toward the …
Lending Discsrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Vincent D. Rougeau, Keith N. Hylton
Lending Discsrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Vincent D. Rougeau, Keith N. Hylton
Journal Articles
Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …