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Federal regulators hit an Oak Park community bank for failing to comply with the federal Community Reinvestment Act, a highly unusual censure.
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Over the past ten years, just 14 of more than 7,500 banks nationwide have been rated substantially non-compliant with the CRA by the four federal bank regulatory agencies,
This is laughable to me with everything that has happened in the mortgage industry the past 2-3 years.
So this bank has not participated in giving out bad loans. Guess what - they are still in business. How many banks participated in CRA and are now shut down or had their assets sold to a "Too Big to Fail" bank?
Federal regulators hit an Oak Park community bank for failing to comply with the federal Community Reinvestment Act, a highly unusual censure.
...
Over the past ten years, just 14 of more than 7,500 banks nationwide have been rated substantially non-compliant with the CRA by the four federal bank regulatory agencies,
This is laughable to me with everything that has happened in the mortgage industry the past 2-3 years.
So this bank has not participated in giving out bad loans. Guess what - they are still in business. How many banks participated in CRA and are now shut down or had their assets sold to a "Too Big to Fail" bank?
Is this a thread where you will tell the CRA was responsible for the mortgage industry loan fiasco? A claim debunked here so many times already? A claim that in Congressional testimony experts in the mortgage loan industry dismissed?
Just a subtle way white conservatives blame minorities for what was caused by rich whites on Wall St.
So this bank has not participated in giving out bad loans.
Quote:
The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation (Section 802.).The law, however, emphasizes that an institution's CRA activities should be undertaken in a safe and sound manner, and does not require institutions to make high-risk loans that may bring losses to the institution.
Tell an uneducated, white, conservative, Southern man a story about how the "minorities did it" and he'll be happy to believe that without evidence.
Anything to to take the blame off the rich white man he worships. They are like him. They are on his side. If he pleases them ...they will be nice to him...lol
Is this a thread where you will tell the CRA was responsible for the mortgage industry loan fiasco? A claim debunked here so many times already? A claim that in Congressional testimony experts in the mortgage loan industry dismissed?
Just a subtle way white conservatives blame minorities for what was caused by rich whites on Wall St.
Where did anyone in the posting say anything about blaming minorities?
Is this a thread where you will tell the CRA was responsible for the mortgage industry loan fiasco? A claim debunked here so many times already? A claim that in Congressional testimony experts in the mortgage loan industry dismissed?
Just a subtle way white conservatives blame minorities for what was caused by rich whites on Wall St.
Just a subtle way white conservatives blame minorities for what was caused by rich whites on Wall St.
Who are you kidding? Liberal democrats used the CRA as a weapon to force banks to make risky loans, who would then sell off the mortgages to get them off their books.
Liberal democrats helped fire up this mess by accusing every republican who opposed the CRA of racism, and then they go and accuse white conservatives of racism for creating this mess.
Who are you kidding? Liberal democrats used the CRA as a weapon to force banks to make risky loans, who would then sell off the mortgages to get them off their books.
Liberal democrats helped fire up this mess by accusing every republican who opposed the CRA of racism, and then they go and accuse white conservatives of racism for creating this mess.
That racist shtick ain't working anymore.
This above post is a perfect example of what I'm talking about. This right winger has bought into this racist lie 100%. He's unable to back this up with evidence to objective sources. He just believes it and repeats it as if it were true. He's never researched the issue...it just jives with his world view so he goes with it.
This above post is a perfect example of what I'm talking about. This right winger has bought into this racist lie 100%.
It seems you're the one bringing up race, racist.
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