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Consumer Law

: Caveat Emptor

Community Reinvestment Act not the cause of the foreclosure mess

By Nick Slade

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One of the great shibboleths of the Republicans is that the Community Reinvestment Act, which requires banks that receive FDIC guarantees must actually address the credit needs of the communities they are chartered to serve, is the cause of our great foreclosure mess. The line goes that in order to comply with the CRA, those [...]

Full post as published by Caveat Emptor on September 26, 2008 (boomark / email).

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