The CRA and subprime lending
The Community Reinvestment Act (CRA) has been under much scrutiny amid the subprime lending bust. Critics of the CRA contend that the law pushed banking institutions to undertake high-risk mortgage lending. A Federal Reserve Board staff analysis finds that the CRA was neither a source nor driver of the housing market's collapse. In this issue, we examine the CRA and its role in the mortgage market and distinguish it from causes of the subprime failure.
Year of publication: |
2009
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Institutions: | Community Affairs Office |
Published in: |
Banking and Community Perspectives. - Federal Reserve Bank of Dallas. - 2009, 1, p. 3-7
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Publisher: |
Federal Reserve Bank of Dallas |
Subject: | Community Reinvestment Act of 1977 | Subprime mortgage | Subprime market |
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