. 06 - 07 Development Lending and the Community Reinvestment Act
نویسندگان
چکیده
These remarks, prepared for the “Issues in Community Economic Development” conference at Western New England College, provide a brief overview of the law and economics literature on urban economic development. I conclude with a set of principles for legislative reform. ∗ Professor of Law and Paul J. Liacos Scholar, Boston University; [email protected].
منابع مشابه
Community Reinvestment Act lending: Is it profitable?
In 1977, Congress passed the Community Reinvestment Act (CRA) to encourage federally insured depository institutions to lend in lowto moderate-income neighborhoods and to lowto moderate-income people. Since then, the profitability of the many special lending programs designed to achieve these goals has been questioned on both theoretical and practical grounds. Arguments range from “if the busin...
متن کاملDo Cra Agreements Influence Lending Patterns ?
An increasingly common method for lending institutions to demonstrate their commitment to and compliance with the Community Reinvestment Act of 1977 (CRA) and fair lending laws has been to enter into agreements with community groups and other entities to help ensure the flow of credit throughout their service area. Table 1 shows that the volume of loan pledges associated with these agreements, ...
متن کاملThe Community Reinvestment Act and the Economics of Regulatory Policy
This article discusses the economic consequences and social implications of the Community Reinvestment Act. The CRA has direct economic effects on banks and neighborhoods and these neighborhoods also gain social benefits from the availability of credit which increase the quality of life in these areas. The article identifies the economic issues associated with providing access to credit in low ...
متن کاملThe Twenty-Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges
he U.S. Congress passed the Community Reinvestment Act (CRA) in 1977 to encourage depository institutions to meet the credit needs of lower income neighborhoods. The CRA was built on the simple proposition that deposit-taking banking organizations have a special obligation to serve the credit needs of the communities in which they maintain branches. At the time of the CRA’s passage, banks and t...
متن کاملWhat Makes CRA Agreements Work? A Study of Lender Responses to CRA Agreements
Paper prepared for the Federal Reserve System's third biennial research conference titled " Sustainable Community Development: What Works, What Doesn't and Why " DRAFT Do not quote or cite without permission of the authors. Board of Governors of the Federal Reserve System. The views expressed in this paper are those of the authors and do not necessarily reflect those of the Board of Governors o...
متن کامل