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class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Legislative_changes_1994"> <div class="vector-toc-text"> 2.6 Legislative changes 1994 </div> </a> <ul id="toc-Legislative_changes_1994-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Regulatory_changes_1995" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Regulatory_changes_1995"> <div class="vector-toc-text"> 2.7 Regulatory changes 1995 </div> </a> <ul id="toc-Regulatory_changes_1995-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Legislative_changes_1999" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Legislative_changes_1999"> <div class="vector-toc-text"> 2.8 Legislative changes 1999 </div> </a> <ul id="toc-Legislative_changes_1999-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Regulatory_changes_2005" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Regulatory_changes_2005"> <div class="vector-toc-text"> 2.9 Regulatory changes 2005 </div> </a> <ul id="toc-Regulatory_changes_2005-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Regulatory_changes_2007" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Regulatory_changes_2007"> <div class="vector-toc-text"> 2.10 Regulatory changes 2007 </div> </a> <ul id="toc-Regulatory_changes_2007-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Legislative_changes_2008" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Legislative_changes_2008"> <div class="vector-toc-text"> 2.11 Legislative changes 2008 </div> </a> <ul id="toc-Legislative_changes_2008-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-CRA_reform_proposals" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#CRA_reform_proposals"> <div class="vector-toc-text"> 2.12 CRA reform proposals </div> </a> <ul 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profitability </div> </a> <ul id="toc-Sound_practices_and_profitability-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Housing_advocacy_groups" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Housing_advocacy_groups"> <div class="vector-toc-text"> 3.3 Housing advocacy groups </div> </a> <ul id="toc-Housing_advocacy_groups-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Predatory_lending" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Predatory_lending"> <div class="vector-toc-text"> 3.4 Predatory lending </div> </a> <ul id="toc-Predatory_lending-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Relationship_to_the_2008_financial_crisis" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Relationship_to_the_2008_financial_crisis"> <div class="vector-toc-text"> 3.5 Relationship to the 2008 financial crisis </div> </a> <ul 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div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Not to be confused with a <a href="/wiki/Redevelopment_agency" title="Redevelopment agency">community redevelopment agency</a>, also called by the acronym "CRA".</div> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox"><caption class="infobox-title" style="padding-bottom:0.25em">Community Reinvestment Act</caption><tbody><tr><td colspan="2" class="infobox-image"><a href="/wiki/File:Great_Seal_of_the_United_States_(obverse).svg" class="mw-file-description"><img alt="Great Seal of the United States" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/140px-Great_Seal_of_the_United_States_%28obverse%29.svg.png" decoding="async" width="140" height="140" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/210px-Great_Seal_of_the_United_States_%28obverse%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/280px-Great_Seal_of_the_United_States_%28obverse%29.svg.png 2x" data-file-width="600" data-file-height="600" /></a></td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Other short titles</th><td class="infobox-data" style="text-align:left;line-height:1.3em">Indian and Alaska Native Community Development Act</td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Long title</th><td class="infobox-data" style="text-align:left;line-height:1.3em">An Act to amend certain Federal laws pertaining to community development, housing, and related programs.</td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Nicknames</th><td class="infobox-data" style="text-align:left;line-height:1.3em">Housing and Community Development Act of 1977</td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Enacted by</th><td class="infobox-data" style="text-align:left;line-height:1.3em">the <a href="/wiki/95th_United_States_Congress" title="95th United States Congress">95th United States Congress</a></td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Effective</th><td class="infobox-data" style="text-align:left;line-height:1.3em">October 12, 1977</td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff">Citations</th></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Public law</th><td class="infobox-data" style="text-align:left;line-height:1.3em"><a rel="nofollow" class="external text" href="https://www.gpo.gov/fdsys/pkg/STATUTE-91/pdf/STATUTE-91-Pg1111.pdf">95-128</a></td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em"><a href="/wiki/United_States_Statutes_at_Large" title="United States Statutes at Large">Statutes at Large</a></th><td class="infobox-data" style="text-align:left;line-height:1.3em">91 <a href="/wiki/United_States_Statutes_at_Large" title="United States Statutes at Large">Stat.</a> <a rel="nofollow" class="external text" href="https://legislink.org/us/stat-91-1111">1111</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff">Codification</th></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Titles amended</th><td class="infobox-data" style="text-align:left;line-height:1.3em"><a href="/wiki/Title_42_of_the_United_States_Code" title="Title 42 of the United States Code">42 U.S.C.: Public Health and Social Welfare</a></td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">U.S.C. sections amended</th><td class="infobox-data" style="text-align:left;line-height:1.3em"><a href="/wiki/Title_42_of_the_United_States_Code" title="Title 42 of the United States Code">42 U.S.C.</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/42/chapter-69">ch. 69</a> § 5301</td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff"><a rel="nofollow" class="external text" href="http://thomas.loc.gov/cgi-bin/bdquery/z?d095:HR06655:@@@R">Legislative history</a></th></tr><tr><td colspan="2" class="infobox-full-data" style="text-align:left;line-height:1.3em"><div><ul style="line-height:1.3em;text-align:left"><li>Introduced in the House as <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/95th-congress/house-bill/6655">H.R. 6655</a> by <a href="/wiki/Henry_S._Reuss" title="Henry S. Reuss">Henry S. Reuss</a> (<a href="/wiki/Democratic_Party_(United_States)" title="Democratic Party (United States)">D</a>–<a href="/wiki/Wisconsin" title="Wisconsin">WI</a>) on April 26, 1977</li><li>Committee consideration by <a href="/wiki/United_States_Senate_Committee_on_Banking,_Housing,_and_Urban_Affairs" title="United States Senate Committee on Banking, Housing, and Urban Affairs">House Banking, Finance, and Urban Affairs</a>, <a href="/wiki/United_States_Senate_Committee_on_Banking,_Housing,_and_Urban_Affairs" title="United States Senate Committee on Banking, Housing, and Urban Affairs">Senate Banking, Housing, and Urban Affairs</a></li><li>Passed the House on May 11, 1977 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/95-1977/h203">369-20</a>)</li><li>Passed the Senate on June 7, 1977 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/95-1977/s177">79-7</a>, in lieu of <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/95th-congress/senate-bill/1523">S. 1523</a>)</li><li>Reported by the joint conference committee on September 26, 1977; agreed to by the Senate on October 1, 1977 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/95-1977/s513">54-19</a>) and by the House on October 4, 1977 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/95-1977/h577">384-26</a>)</li><li>Signed into law by President <a href="/wiki/Jimmy_Carter" title="Jimmy Carter">Jimmy Carter</a> on October 12, 1977</li></ul></div></td></tr></tbody></table> The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, <a href="/wiki/Title_12_of_the_United_States_Code" title="Title 12 of the United States Code">12 U.S.C.</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2901">§ 2901</a> et seq.) is a <a href="/wiki/United_States_federal_law" class="mw-redirect" title="United States federal law">United States federal law</a> designed to encourage commercial <a href="/wiki/Bank" title="Bank">banks</a> and <a href="/wiki/Savings_and_loan_association" title="Savings and loan association">savings associations</a> to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.<a href="#cite_note-fdic.gov-1">[1]</a><a href="#cite_note-ABC-2">[2]</a><a href="#cite_note-Federal_Reserve-3">[3]</a> Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as <a href="/wiki/Redlining" title="Redlining">redlining</a>.<a href="#cite_note-Bernanke-4">[4]</a><a href="#cite_note-30years-5">[5]</a> The Act instructs 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 (<a href="https://en.wikisource.org/wiki/Community_Reinvestment_Act_of_1977#Sec._802." class="extiw" title="s:Community Reinvestment Act of 1977">Section 802</a>). To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new <a href="/wiki/Branch_(banking)" title="Branch (banking)">bank branches</a> or for <a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">mergers or acquisitions</a> (<a href="https://en.wikisource.org/wiki/Community_Reinvestment_Act_of_1977#Sec._804." class="extiw" title="s:Community Reinvestment Act of 1977">Section 804</a>).<a href="#cite_note-St._Louis_Fed-6">[6]</a> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Holc_redlining_1937.jpeg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Holc_redlining_1937.jpeg/300px-Holc_redlining_1937.jpeg" decoding="async" width="300" height="387" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Holc_redlining_1937.jpeg/450px-Holc_redlining_1937.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Holc_redlining_1937.jpeg/600px-Holc_redlining_1937.jpeg 2x" data-file-width="773" data-file-height="997" /></a><figcaption>The CRA was passed to discourage <a href="/wiki/Redlining" title="Redlining">redlining</a>, a practice originally based on <a href="/wiki/Home_Owners%27_Loan_Corporation" title="Home Owners' Loan Corporation">Home Owners' Loan Corporation</a> "residential security maps", like this 1937 security map of Philadelphia.</figcaption></figure> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Enforcement">Enforcement</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=1" title="Edit section: Enforcement">edit</a>]</div> The Community Reinvestment Act of 1977 sought to address <a href="/wiki/Discrimination" title="Discrimination">discrimination</a> in loans made to individuals and businesses from low and moderate-income neighborhoods.<a href="#cite_note-Ardalan-7">[7]</a> The Act mandates that all banking institutions that receive <a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a> (FDIC) insurance be evaluated by Federal banking agencies to determine if the bank offers credit in a manner consistent with safe and sound operation (as per <a href="https://en.wikisource.org/wiki/Community_Reinvestment_Act_of_1977#Sec._802." class="extiw" title="s:Community Reinvestment Act of 1977">Section 802(b)</a> and <a href="https://en.wikisource.org/wiki/Community_Reinvestment_Act_of_1977#Sec._804." class="extiw" title="s:Community Reinvestment Act of 1977">Section 804(1)</a>) in all communities in which they are chartered to do business.<a href="#cite_note-Federal_Reserve-3">[3]</a> The law does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution. Federal regulations dictate agency conduct in evaluating a bank's compliance in five performance areas, comprising twelve assessment factors. This examination culminates in a rating and a written report that becomes part of the supervisory record for that bank.<a href="#cite_note-Bernanke8-8">[8]</a> 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.<a href="#cite_note-Federal_Reserve-3">[3]</a><a href="#cite_note-Bernanke-4">[4]</a> An institution's CRA compliance record is taken into account by the banking regulatory agencies when the institution seeks to expand through merger, acquisition or branching. The law does not mandate any other penalties for non-compliance with the CRA.<a href="#cite_note-St._Louis_Fed-6">[6]</a><a href="#cite_note-FFIEC-9">[9]</a> <div class="mw-heading mw-heading3"><h3 id="Regulations">Regulations</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=2" title="Edit section: Regulations">edit</a>]</div> The same banking agencies that are responsible for supervising depository institutions are also the agencies that conduct examinations for CRA compliance.<a href="#cite_note-FBAdefinition-10">[10]</a> These agencies are the <a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a> (FRB), the FDIC, and the <a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a> (OCC). In 1981, to help achieve the goals of the CRA, each of the Federal Reserve Banks established a Community Affairs Office to work with banking institutions and the public in identifying credit needs within the community and ways to address those needs.<a href="#cite_note-St._Louis_Fed-6">[6]</a> Implementation of the CRA by these financial supervisory agencies is enacted by Title 12 of the <a href="/wiki/Code_of_Federal_Regulations" title="Code of Federal Regulations">Code of Federal Regulations</a> (CFR); Parts 25, 228, 345, and 563e with the addition of Part 203 as it relates to sections of the <a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a> (HMDA).<a href="#cite_note-FFIECregs-11">[11]</a> <table class="wikitable" style="font-size:98%; margin: 1em auto; background:white; id:Table I"> <caption>Table I. - Federal Agencies and the CRA's Corresponding CFR </caption> <tbody><tr> <th>Federal Financial Supervisory Agency</th> <th>Code of Federal Regulations</th> <th><a href="/wiki/Code_of_Federal_Regulations" title="Code of Federal Regulations">e-CFR</a></th> <th>Notes</th> <th><a href="#Regulatory_changes_1995">1995</a></th> <th><a href="#Regulatory_changes_2005">2005</a> </th></tr> <tr> <td>Office of the Comptroller of the Currency (OCC) </td> <td>12. C.F.R. Part 25. et seq. </td> <td><a href="#cite_note-12CFR25-12">[12]</a> </td> <td><a href="#cite_note-OCC-CRA-13">[13]</a> </td> <td><a href="#cite_note-FR22178-14">[14]</a> </td> <td><a href="#cite_note-OCC_2005-28-15">[15]</a><a href="#cite_note-FR44266-16">[16]</a> </td></tr> <tr> <td rowspan="2" valign="top">Federal Reserve System (FRB) </td> <td>12. C.F.R. Part 228. et seq. </td> <td><a href="#cite_note-12CFR228-17">[17]</a> </td> <td><a href="#cite_note-FRB-CRA-18">[18]</a> </td> <td><a href="#cite_note-FR22189-19">[19]</a> </td> <td><a href="#cite_note-FR44267-20">[20]</a> </td></tr> <tr> <td>12. C.F.R. Part 203. et seq. </td> <td><a href="#cite_note-12CFR203-21">[21]</a> </td> <td><a href="#cite_note-FRB-HMDA-22">[22]</a> </td> <td><a href="#cite_note-FR22223-23">[23]</a> </td> <td> </td></tr> <tr> <td>Federal Deposit Insurance Corporation (FDIC) </td> <td>12. C.F.R. Part 345. et seq. </td> <td><a href="#cite_note-12CFR345-24">[24]</a> </td> <td><a href="#cite_note-FDIC-CRA-25">[25]</a> </td> <td><a href="#cite_note-FR22201-26">[26]</a> </td> <td><a href="#cite_note-FDIC_FIL-33-2006-27">[27]</a><a href="#cite_note-FR44269-28">[28]</a> </td></tr></tbody></table> The <a href="/wiki/Federal_Financial_Institutions_Examination_Council" title="Federal Financial Institutions Examination Council">Federal Financial Institutions Examination Council</a> (FFIEC) coordinates inter-agency information about the CRA.<a href="#cite_note-FFIECregs-11">[11]</a><a href="#cite_note-FFIECreporter-29">[29]</a> Information about the CRA ratings of individual banking institutions from the three responsible agencies (Federal Reserve, FDIC, and OCC), is publicly available from the website of the FFIEC.<a href="#cite_note-30">[30]</a> These ratings were first made available by the Clinton administration to enable public participation and public comment on CRA performance.<a href="#cite_note-PressBrief-31">[31]</a> In addition to the regulatory framework in place, each federal financial supervisory agency's Inspector General performs regular audits on any regulatory changes made to see if the intended goals are actually being fulfilled.<a href="#cite_note-OIG_FDIC-2005-32">[32]</a> <div class="mw-heading mw-heading2"><h2 id="History">History</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=3" title="Edit section: History">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/38px-Wikisource-logo.svg.png" decoding="async" width="38" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/57px-Wikisource-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/76px-Wikisource-logo.svg.png 2x" data-file-width="410" data-file-height="430" /></div> <div class="side-box-text plainlist"><a href="/wiki/Wikisource" title="Wikisource">Wikisource</a> has original text related to this article: <div style="margin-left: 10px;"><a href="https://en.wikisource.org/wiki/Community_Reinvestment_Act_of_1977" class="extiw" title="wikisource:Community Reinvestment Act of 1977">Community Reinvestment Act of 1977</a></div></div></div> </div> The original Act was passed by the <a href="/wiki/95th_United_States_Congress" title="95th United States Congress">95th United States Congress</a> and signed into law by President <a href="/wiki/Jimmy_Carter" title="Jimmy Carter">Jimmy Carter</a> on October 12, 1977 (<a rel="nofollow" class="external text" href="https://www.congress.gov/bill/95th-congress/house-bill/6655">Pub.L. 95-128</a>, <a href="/wiki/Title_12_of_the_United_States_Code" title="Title 12 of the United States Code">12 U.S.C.</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/chapter-30">ch. 30</a>).<a href="#cite_note-33">[33]</a> The CRA was passed as a result of national pressure to address the deteriorating conditions of American cities—particularly lower-income and minority neighborhoods.<a href="#cite_note-Bernanke-4">[4]</a> Community activists, such as <a href="/wiki/Gale_Cincotta" title="Gale Cincotta">Gale Cincotta</a> of <a href="/wiki/National_People%27s_Action" class="mw-redirect" title="National People's Action">National People's Action</a> in Chicago, led the national fight to pass, and later to enforce the Act.<a href="#cite_note-NYT:Cincotta-34">[34]</a> Several legislative and regulatory revisions have since been enacted. [<a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify">clarification needed</a>] <div class="mw-heading mw-heading3"><h3 id="Original_act">Original act</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=4" title="Edit section: Original act">edit</a>]</div> The CRA followed similar laws passed to reduce discrimination in the credit and housing markets including the <a href="/wiki/Fair_Housing_Act" class="mw-redirect" title="Fair Housing Act">Fair Housing Act</a> of 1968, the <a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity Act</a> of 1974 and the <a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a> of 1975 (HMDA). The Fair Housing Act and the Equal Credit Opportunity Act prohibit discrimination on the basis of race, sex, or other personal characteristics. The Home Mortgage Disclosure Act requires that financial institutions publicly disclose mortgage lending and application data. In contrast with those acts, the CRA seeks to ensure the provision of credit to all parts of a community, regardless of the relative wealth or poverty of a neighborhood.<a href="#cite_note-Braunstein-35">[35]</a><a href="#cite_note-SandraThompson-36">[36]</a> Before the Act was passed, there were severe shortages of credit available to low- and moderate-income neighborhoods. In their 1961 report, the <a href="/wiki/U.S._Commission_on_Civil_Rights" class="mw-redirect" title="U.S. Commission on Civil Rights">U.S. Commission on Civil Rights</a> found that African-American borrowers were often required to make higher <a href="/wiki/Downpayment" class="mw-redirect" title="Downpayment">downpayments</a> and adopt faster repayment schedules. The commission also documented blanket refusals to lend in particular areas (<a href="/wiki/Redlining" title="Redlining">redlining</a>).<a href="#cite_note-civil-1961-37">[37]</a> The allegations of "redlining" certain neighborhoods originated with the <a href="/wiki/Federal_Housing_Administration" title="Federal Housing Administration">Federal Housing Administration</a> in the 1930s. The "residential security maps" created by the <a href="/wiki/Home_Owners%27_Loan_Corporation" title="Home Owners' Loan Corporation">Home Owners' Loan Corporation</a> (HOLC) for the FHA were used by private and public entities for years afterwards to withhold mortgage capital from neighborhoods that were deemed "unsafe".<a href="#cite_note-jackson-38">[38]</a> Contributory factors in the shortage of direct lending in low- and moderate-income communities were a limited secondary market for mortgages, informational problems to do with the lack of credit evaluations for lower-income borrowers, and lack of coordination among credit agencies.<a href="#cite_note-Carter1978-39">[39]</a><a href="#cite_note-Braunstein-35">[35]</a><a href="#cite_note-SandraThompson-36">[36]</a> In Congressional debate on the Act, critics charged that the law would create unnecessary regulatory burdens. Partly in response to these concerns, Congress included little prescriptive detail and simply directs the banking regulatory agencies to ensure that banks and savings associations serve the credit needs of their local communities in a safe and sound manner.<a href="#cite_note-Bernanke-4">[4]</a><a href="#cite_note-Braunstein-35">[35]</a> Community groups only slowly organized to take advantage of their right under the Act to complain about law enforcement of the regulations.<a href="#cite_note-Schwartz-40">[40]</a> <div class="mw-heading mw-heading3"><h3 id="Legislative_revision_history">Legislative revision history</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=5" title="Edit section: Legislative revision history">edit</a>]</div> The hidden table below lists the <a href="/wiki/Act_of_Congress" title="Act of Congress">acts of Congress</a> that affected the Community Reinvestment Act directly. The years in which the legislative revisions were made appear in bold text preceding the Public Laws that enacted them. The links to the codification and section notes may provide additional information about the legislative changes as well. <table class="wikitable collapsible collapsed" align="center" style="margin: 1em auto 1em auto; width:98%"> <tbody><tr> <th><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hcda1977">Housing and Community Development Act of 1977 − Title VIII</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_30.html">USC Title 12 − Chapter 30 − Community Reinvestment</a> </th></tr> <tr> <td> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac801">SEC. 801</a>.  This title may be cited as the "Community Reinvestment Act of 1977" <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2901-">12. U.S.C. § 2901 →Note← </a>  |   *short title citation found under section notes</dd></dl> <blockquote> [Source:  Section 801 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac802">SEC. 802</a>.  Congressional Findings and Statement of Purpose <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2901-">12 U.S.C. § 2901</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2901-">notes</a></dd></dl> <blockquote> [Source:  Section 802 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac803">SEC. 803</a>.  Definitions <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2902-">12. U.S.C. § 2902</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2902-">notes</a></dd></dl> <blockquote> [Source:  Section 803 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977; as amended by section 1502 of title XV of the Act of November 10, 1978 (Pub. L. No. 95–630; 92 Stat. 3713), effective November 10, 1978; sections 744(q) of title VII and 1212(a) of title XII of the Act of August 9, 1989 (Pub. L. No. 101–73; 103 Stat. 440 and 526, respectively), effective August 9, 1989; and section 358(1) of title III of the Act of July 21, 2010, (Pub. L. No. 111–203; 124 Stat. 1548), effective July 21, 2011]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac804">SEC. 804</a>.  Financial Institutions; Evaluation <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2903-">12. U.S.C. § 2903</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2903-">notes</a></dd></dl> <blockquote> [Source:  Section 804 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1148), effective October 12, 1977; as amended by section 909(1) of title IX of the Act of October 28, 1992 (Pub. L. No. 102–550; 106 Stat. 3874), effective October 28, 1992; section 103(b) of title I of the Act of November 12, 1999 (Pub. L. No. 106–102; 113 Stat. 1351), effective March 12, 2000; section 1031(a) of title X of the Act of August 14, 2008 (Pub. L. No. 110–315; 122 Stat. 3488), effective August 14, 2008]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac805">SEC. 805</a>.  Report to Congress <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2904-">12. U.S.C. § 2904</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2904-">notes</a></dd></dl> <blockquote> [Source:  Section 805 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1148), effective October 12, 1977]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac806">SEC. 806</a>.  Regulations <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2905-">12. U.S.C. § 2905</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2905-">notes</a></dd></dl> <blockquote> [Source:  Section 806 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1148), effective October 12, 1977; as amended by section 358(2) of title III of the Act of July 21, 2010, (Pub. L. No. 111–203; 124 Stat. 1548), effective July 21, 2011]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac807">SEC. 807</a>.  Written Evaluations <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2906-">12. U.S.C. § 2906</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2906-">notes</a></dd></dl> <blockquote> [Source:  Section 807 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977, as added by section 1212(b) of title XII of the Act of August 9, 1989 (Pub. L. No. 101–73; 103 Stat. 526), effective August 9, 1989; amended by section 222 of title II of the Act of December 19, 1991 (Pub. L. No. 102–242; 105 Stat. 2306), effective December 19, 1991; section 110 of title I of the Act of September 29, 1994 (Pub. L. No. 103–328; 108 Stat. 2364), effective September 29, 1994]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac808">SEC. 808</a>.  Operation of Branch Facilities by Minorities and Women <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2907-">12. U.S.C. § 2907</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2907-">notes</a></dd></dl> <blockquote> [Source:  Section 808 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977, as added by section 402(b) of title IV of the Act of December 12, 1991 (Pub. L. No. 102–233; 105 Stat. 1775), effective December 12, 1991; as amended by section 909(2) of title IX of the Act of October 28, 1992 (Pub. L. No. 102–550; 106 Stat. 3874), effective October 28, 1992]</blockquote> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html#fdic6500hac809">SEC. 809</a>.  Small Bank Regulatory Relief <dl><dd>Codified to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2908-">12. U.S.C. § 2908</a>  |  <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2908-">notes</a></dd></dl> <blockquote> [Source:  Section 809 of title VIII of the Act of October 12, 1977 (Pub. L. No. 95–128; 91 Stat. 1147), effective October 12, 1977, as added by section 712 of the Act of November 12, 1999 (Pub. L. No. 106–102; 113 Stat. 1469), effective November 12, 1999]</blockquote> </td></tr> </tbody></table> <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_1989">Legislative changes 1989</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=6" title="Edit section: Legislative changes 1989">edit</a>]</div> The <a href="/wiki/Financial_Institutions_Reform,_Recovery_and_Enforcement_Act_of_1989" class="mw-redirect" title="Financial Institutions Reform, Recovery and Enforcement Act of 1989">Financial Institutions Reform, Recovery and Enforcement Act of 1989</a> (FIRREA) was enacted by the 101st Congress and signed into law by President <a href="/wiki/George_H._W._Bush" title="George H. W. Bush">George H. W. Bush</a> in the wake of the <a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">savings and loan crisis</a> of the 1980s. As part of the subsequent general reform of the banking industry, FIRREA added section 807 (<a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2906-">12. U.S.C. § 2906</a>) to the existing CRA statutes in an effort to improve the area concerning insured depository institution examinations. The new language now required the appropriate Federal regulatory agency to prepare a written evaluation after completing the examination of an institution's record in meeting the credit needs of its entire community, including any low- and moderate-income neighborhoods within it. These evaluation reports were divided into separate sections - one confidential; allowing the evaluated institution to retain its proprietary and personal information integrity at the same time the beginnings of the related databases were being compiled, and the other made public; intended to increase access and oversight of the CRS examination process. The public section introduced a four-tiered CRA examination rating system with performance levels of 'Outstanding', 'Satisfactory', 'Needs to Improve', or 'Substantial Noncompliance', each supplemented with a written synopsis of the agencies' evaluation reasoning using any available facts to support their conclusions.<a href="#cite_note-Braunstein-35">[35]</a><a href="#cite_note-Sec._1212-41">[41]</a> According to <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a>, this law greatly increased the ability of advocacy groups, researchers, and other analysts to "perform more-sophisticated, quantitative analyses of banks' records", thereby influencing the lending policies of banks. Over time, community groups and nonprofit organizations established "more-formalized and more-productive partnerships with banks."<a href="#cite_note-Bernanke-4">[4]</a> <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_1991">Legislative changes 1991</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=7" title="Edit section: Legislative changes 1991">edit</a>]</div> Around the time of the introduction of the <a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">Federal Deposit Insurance Corporation Improvement Act of 1991</a> (FDICIA), the appropriate Federal regulatory agencies had reliably compiled enough institution examination data to warrant its inclusion in the public section of the written evaluations first established in 1989. With the passage of this Act in December 1991, section 807 (<a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2906-">12. U.S.C. § 2906</a>) was amended to require the inclusion of any examination data relevant in determining an institutions CRA rating as well.<a href="#cite_note-Bernanke-4">[4]</a><a href="#cite_note-Sec._222-42">[42]</a> A week earlier that same December, the existing CRA statute was amended once again upon the enactment of the <a href="/w/index.php?title=Resolution_Trust_Corporation_Refinancing,_Restructuring,_and_Improvement_Act_of_1991&action=edit&redlink=1" class="new" title="Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 (page does not exist)">Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991</a>. It allowed the <a href="/wiki/Resolution_Trust_Corporation" title="Resolution Trust Corporation">Resolution Trust Corporation</a> (RTC) to make available any branch of any savings association located in any predominantly minority neighborhoods that the RTC had been appointed the conservator or receiver of any minority depository institution or women's depository institution with favorable conditions. Upon the addition of section 808 (<a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2907-">12. U.S.C. § 2907</a>) to the existing CRA statutes by the Act, any depository institution which donated, sold with favorable terms (as determined by the appropriate Federal financial supervisory agency), or made available on a rent-free basis any branch of such institutions located in any predominantly minority neighborhood to any minority depository institution or women's depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity would go towards meeting the credit needs of the institution's community and would be taken into consideration when CRA examinations were evaluated.<a href="#cite_note-Sec._402-43">[43]</a> <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_1992">Legislative changes 1992</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=8" title="Edit section: Legislative changes 1992">edit</a>]</div> Although minor amendments were made directly to the Community Reinvestment Act concerning the <a href="https://en.wikisource.org/wiki/Housing_and_Community_Development_Act_of_1992/Title_IX/Subtitle_A#Sec._909." class="extiw" title="s:Housing and Community Development Act of 1992/Title IX/Subtitle A">consideration of minority and female owned institutions & partnerships</a> during evaluations first established in 1991, other portions of the <a href="/wiki/Federal_Housing_Enterprises_Financial_Safety_and_Soundness_Act_of_1992" title="Federal Housing Enterprises Financial Safety and Soundness Act of 1992">Federal Housing Enterprises Financial Safety and Soundness Act of 1992</a> indirectly affected the CRA practices at the time in requiring <a href="/wiki/Fannie_Mae" title="Fannie Mae">Fannie Mae</a> and <a href="/wiki/Freddie_Mac" title="Freddie Mac">Freddie Mac</a>, the two <a href="/wiki/Government_sponsored_enterprise" class="mw-redirect" title="Government sponsored enterprise">government sponsored enterprises</a> that purchase and securitize mortgages, to devote a percentage of their lending to support affordable housing.<a href="#cite_note-Bernanke-4">[4]</a> <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_1994">Legislative changes 1994</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=9" title="Edit section: Legislative changes 1994">edit</a>]</div> The <a href="/wiki/Riegle-Neal_Interstate_Banking_and_Branching_Efficiency_Act_of_1994" class="mw-redirect" title="Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994">Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994</a>, which repealed restrictions on interstate banking, listed the Community Reinvestment Act ratings received by the out-of-state bank as a consideration when determining whether to allow interstate branches.<a href="#cite_note-FDIC-1994-44">[44]</a><a href="#cite_note-12USC1835a-45">[45]</a> According to Bernanke, a surge in bank merger and acquisition activities followed the passing of the act, and advocacy groups increasingly used the public comment process to protest bank applications on Community Reinvestment Act grounds. When applications were highly contested, federal agencies held public hearings to allow public comment on the bank's lending record. In response many institutions established separate business units and subsidiary corporations to facilitate CRA-related lending. Local and regional public-private partnerships and multi-bank loan consortia were formed to expand and manage such CRA-related lending.<a href="#cite_note-Bernanke-4">[4]</a> <div class="mw-heading mw-heading3"><h3 id="Regulatory_changes_1995">Regulatory changes 1995</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=10" title="Edit section: Regulatory changes 1995">edit</a>]</div> In July 1993, President <a href="/wiki/Bill_Clinton" title="Bill Clinton">Bill Clinton</a> asked regulators to reform the CRA in order to make examinations more consistent, clarify performance standards, and reduce cost and compliance burden.<a href="#cite_note-1993annoucement-46">[46]</a> <a href="/wiki/Robert_Rubin" title="Robert Rubin">Robert Rubin</a>, the Assistant to the President for Economic Policy, under President Clinton, explained that this was in line with President Clinton's strategy to "deal with the problems of the inner city and distressed rural communities". Discussing the reasons for the Clinton administration's proposal to strengthen the CRA and further reduce red-lining, <a href="/wiki/Lloyd_Bentsen" title="Lloyd Bentsen">Lloyd Bentsen</a>, Secretary of the Treasury at that time, affirmed his belief that availability of credit should not depend on where a person lives, "The only thing that ought to matter on a loan application is whether or not you can pay it back, not where you live." Bentsen said that the proposed changes would "make it easier for lenders to show how they're complying with the Community Reinvestment Act", and "cut back a lot of the paperwork and the cost on small business loans".<a href="#cite_note-PressBrief-31">[31]</a> By early 1995, the proposed CRA regulations were substantially revised to address criticisms that the regulations, and the agency's implementation of them through the examination process to date, were too process-oriented, burdensome, and not sufficiently focused on actual results.<a href="#cite_note-Clinton1995-47">[47]</a> The CRA examination process itself was reformed to incorporate the pending changes.<a href="#cite_note-Braunstein-35">[35]</a> Information about banking institutions' CRA ratings was made available via web page for public review as well.<a href="#cite_note-PressBrief-31">[31]</a> The Office of the <a href="/wiki/Comptroller_of_the_Currency" class="mw-redirect" title="Comptroller of the Currency">Comptroller of the Currency</a> (OCC) also moved to revise its regulation structure allowing lenders subject to the CRA to claim community development loan credits for loans made to help finance the environmental cleanup or redevelopment of industrial sites when it was part of an effort to revitalize the low- and moderate-income community where the site was located.<a href="#cite_note-EPA-48">[48]</a> During one of the Congressional hearings addressing the proposed changes in 1995, <a href="/wiki/William_A._Niskanen" title="William A. Niskanen">William A. Niskanen</a>, chair of the <a href="/wiki/Cato_Institute" title="Cato Institute">Cato Institute</a>, criticized both the 1993 and 1994 sets of proposals for political favoritism in allocating credit, for micromanagement by regulators and for the lack of assurances that banks would not be expected to operate at a loss to achieve CRA compliance. He predicted the proposed changes would be very costly to the economy and the banking system in general. Niskanen believed that the primary long-term effect would be an artificial contraction of the banking system. Niskanen recommended Congress repeal the Act.<a href="#cite_note-49">[49]</a> Niskanen's, and other respondents to the proposed changes, voiced their concerns during the public comment & testimony periods in late 1993 through early 1995. In response to the aggregate concerns recorded by then, the Federal financial supervisory agencies (the OCC, FRB, FDIC, and OTS) made further clarifications relating to definition, assessment, ratings and scope; sufficiently resolving many of the issues raised in the process. The agencies jointly reported their final amended regulations for implementing the Community Reinvestment Act in the <a href="/wiki/Federal_Register" title="Federal Register">Federal Register</a> on May 4, 1995. The final amended regulations replaced the existing CRA regulations in their entirety.<a href="#cite_note-FR22156-50">[50]</a> (See the notes in the "1995" column of <a href="#Regulations">Table I.</a> for the specifics) <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_1999">Legislative changes 1999</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=11" title="Edit section: Legislative changes 1999">edit</a>]</div> In 1999 the Congress enacted and President Clinton signed into law the <a href="/wiki/Gramm-Leach-Bliley_Act" class="mw-redirect" title="Gramm-Leach-Bliley Act">Gramm-Leach-Bliley Act</a>, also known as the Financial Services Modernization Act. This law repealed the part of the <a href="/wiki/Glass%E2%80%93Steagall_Act" class="mw-redirect" title="Glass–Steagall Act">Glass–Steagall Act</a> that had prohibited a bank from offering a full range of <a href="/wiki/Investment_bank" class="mw-redirect" title="Investment bank">investment</a>, <a href="/wiki/Commercial_bank" title="Commercial bank">commercial banking</a>, and <a href="/wiki/Insurance" title="Insurance">insurance</a> services since its enactment in 1933. A similar bill was introduced in 1998 by <a href="/wiki/United_States_Senate" title="United States Senate">Senator</a> <a href="/wiki/Phil_Gramm" title="Phil Gramm">Phil Gramm</a> but it was unable to complete the legislative process into law. Resistance to enacting the 1998 bill, as well as the subsequent 1999 bill, centered around the legislation's language which would expand the types of banking institutions of the time into other areas of service but would not be subject to CRA compliance in order to do so. The Senator also demanded full disclosure of any financial "deals" which community groups had with banks, accusing such groups of "extortion".<a href="#cite_note-NHI-CRA-51">[51]</a> In the fall of 1999, Senators <a href="/wiki/Christopher_Dodd" class="mw-redirect" title="Christopher Dodd">Dodd</a> and <a href="/wiki/Charles_E._Schumer" class="mw-redirect" title="Charles E. Schumer">Schumer</a> prevented another <a href="/wiki/Impasse" title="Impasse">impasse</a> by securing a compromise between Sen. Gramm and the Clinton Administration by agreeing to amend the Federal Deposit Insurance Act (<a href="/wiki/Title_12_of_the_United_States_Code" title="Title 12 of the United States Code">12 U.S.C.</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/chapter-16">ch. 16</a>) to allow banks to merge or expand into other types of financial institutions. The FDIC related provisions of the new Gramm-Leach-Bliley Act, along with the addition of sub-section <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2903-#c">§ 2903(c)</a> directly to Title 12, insured any bank holding institution wishing to be re-designated as a financial holding institution by the <a href="/wiki/Board_of_Governors" class="mw-redirect" title="Board of Governors">Board of Governors</a> of the <a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a> would also have to follow Community Reinvestment Act compliance guidelines before any merger or expansion could take effect.<a href="#cite_note-52">[52]</a> At the same time the G-L-B Act's changes to the Federal Deposit Insurance Act would now allow for bank expansions into new lines of business, non-affiliated groups entering into agreements with these bank or financial institutions would also have to be reported as outlined under the newly added section to Title 12, <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/1831y-">§ 1831y (CRA Sunshine Requirements)</a>, to satisfy Gramm's concerns.<a href="#cite_note-53">[53]</a><a href="#cite_note-54">[54]</a> In conjunction with the Gramm-Leach-Bliley Act changes, smaller banks would be reviewed less frequently for CRA compliance by the addition of <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/2908-#a">§2908. (Small Bank Regulatory Relief)</a> directly to <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/chapter-30">Chapter 30</a>, (the existing CRA laws), itself. The 1999 Act also mandated two studies to be conducted in connection with the "Community Reinvestment Act":<a href="#cite_note-55">[55]</a> <dl><dd><ul><li>the first report by the Federal Reserve, to be delivered to Congress by March 15, 2000, is a comprehensive study of CRA to focus on default and delinquency rates, and the profitability of loans made in connection with CRA;<a href="#cite_note-56">[56]</a></li> <li>the second report to be conducted by the Treasury Department over the next two years, is intended to determine the impact of the Act on the provision of services to low- and moderate-income neighborhoods and people, as intended by CRA.<a href="#cite_note-57">[57]</a></li></ul></dd></dl> On signing the Gramm-Leach-Bliley Act, President Clinton said that it, "establishes the principles that, as we expand the powers of banks, we will expand the reach of the [Community Reinvestment] Act".<a href="#cite_note-statement-58">[58]</a> <div class="mw-heading mw-heading3"><h3 id="Regulatory_changes_2005">Regulatory changes 2005</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=12" title="Edit section: Regulatory changes 2005">edit</a>]</div> In 2002 there was an inter-agency review of the effectiveness of the 1995 regulatory changes to the Community Reinvestment Act and new proposals were considered.<a href="#cite_note-Braunstein-35">[35]</a> In 2003, researchers at the Federal Reserve Bank of New York noted that dramatic changes in the financial services landscape had weakened the CRA, and that in 2003 less than 30 percent of all home purchase loans were subject to intensive review under the CRA.<a href="#cite_note-Apgar-59">[59]</a> In early 2005, the <a href="/wiki/Office_of_Thrift_Supervision" title="Office of Thrift Supervision">Office of Thrift Supervision</a> (OTS) implemented new rules that – among other changes – allowed thrifts with over $1 billion in assets to tweak the long-standing 50-25-25 CRA ratings thresholds by continuing to meet 50 percent of their overall CRA rating through lending activity as always but the other 50 percent could be any combination of lending, investment, and services that the thrift wanted. The obligations to adhere to 25 percent for services and 25 percent for investments became optional and the means to securing a satisfactory CRA rating was left to the discretion of the qualifying thrifts instead (See the notes in the "2005" column of <a href="#Regulations">Table I.</a> for the specifics).[<a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify">clarification needed</a>]<a href="#cite_note-OTS_05-07-60">[60]</a> In April 2005, a contingent of Democratic <a href="/wiki/Congressmen" class="mw-redirect" title="Congressmen">Congressmen</a> led by Representative <a href="/wiki/Barney_Frank" title="Barney Frank">Barney Frank</a> issued a letter protesting these changes, saying they undercut the ability of the CRA to "meet the needs of low and moderate-income persons and communities".<a href="#cite_note-CongressDemocrats-61">[61]</a> The changes were also opposed by community groups concerned that it would weaken the CRA.<a href="#cite_note-62">[62]</a> After enacting a technical regulatory amendment in the interim incorporating a different formula for stratifying both metropolitan and rural zones to better align with an expanded definition of them under the CRA in the process,<a href="#cite_note-63">[63]</a><a href="#cite_note-FR15570-64">[64]</a> the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) also put a new set of regulations into effect in September 2005 - mirroring much of what the OTS had already initiated earlier in the year (See the notes in the "2005" column of <a href="#Regulations">Table I</a> for specifics).<a href="#cite_note-FR44256-65">[65]</a> These regulations also included less restrictive definitions of "small" and "intermediate small" banks.<a href="#cite_note-OCC_2005-28-15">[15]</a> "Intermediate small banks" were defined as banks with assets of less than $1 billion but more than $250 million, which allowed these banks to opt for examination as either as a small bank or a large bank.<a href="#cite_note-FDIC_FIL-33-2006-27">[27]</a> Currently banks with assets greater than $1.061 billion have their CRA performance evaluated according to lending, investment and service tests. The agencies use the Consumer Price Index to adjust the asset size thresholds for small and large institutions annually.<a href="#cite_note-Braunstein-35">[35]</a> <div class="mw-heading mw-heading3"><h3 id="Regulatory_changes_2007">Regulatory changes 2007</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=13" title="Edit section: Regulatory changes 2007">edit</a>]</div> The Office of Thrift Supervision (OTS) proposed revising and started to solicit public comment regarding the complete alignment of its CRA rule with the CRA rules of the other three federal banking agencies in November 2006. The agency referenced several factors for the proposed realignment, in particular, that a consistent CRA standard applied to both the banking and the thrift industries would facilitate objective evaluations of CRA performance; ensure accurate assessments of banks and thrifts that operated in the same markets; and permit the public to make reasonable comparisons of bank and thrift CRA performance.<a href="#cite_note-OTS_06-054-66">[66]</a> OTS Director at the time, John Reich announced the final decision to go ahead and implement the proposed revisions in four main areas of its existing Community Reinvestment Act (CRA) regulations to reestablish uniformity between its rules and those of the other federal banking agencies. Reaffirming the basis for the revised rules as first proposed, Reich stated, "OTS is making these revisions to promote consistency and facilitate objective evaluations of CRA performance across the banking and thrift industries. Consistent standards will allow the public to make more effective comparisons of bank and thrift CRA performance." He noted the changes reinforce CRA objectives consistent with thrifts' performance in meeting the financial services needs of their communities.<a href="#cite_note-OTS_07-016-67">[67]</a> This OTS rule revision aligned with that of the other agencies by:<a href="#cite_note-FR13429-68">[68]</a> <ol><li>eliminating the option of alternative weights for lending, investment, and service under the large, retail savings association test;</li> <li>defining institutions with assets between $250 million and $1 billion as "intermediate small savings associations" subject to a new community development test;</li> <li>indexing the asset threshold for "small" and "intermediate small" savings associations annually based on changes to the Consumer Price Index (CPI); and</li> <li>clarifying the adverse impact on a savings association's CRA rating where the OTS finds evidence of discrimination or other illegal credit practices.</li></ol> These four changes generally mirror the ones made by the other three federal agencies in late <a href="#Regulatory_changes_2005">2005</a>.[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] The agency noted that latitude would be provided for a short period of time to institutions in the context of examinations conducted after the effective date, July 1, 2007, in order to implement program changes under the new rule smoothly.[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] <div class="mw-heading mw-heading3"><h3 id="Legislative_changes_2008">Legislative changes 2008</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=14" title="Edit section: Legislative changes 2008">edit</a>]</div> With the passage of the <a href="/wiki/Higher_Education_Opportunity_Act" class="mw-redirect" title="Higher Education Opportunity Act">Higher Education Opportunity Act</a> into law, <a href="/wiki/Act_of_Congress#Public_law,_private_law,_designation" title="Act of Congress"><abbr title="Public Law">Pub. L.</abbr></a> <a rel="nofollow" class="external text" href="https://www.govinfo.gov/link/plaw/110/public/315?link-type=html">110–315 (text)</a> <a rel="nofollow" class="external text" href="https://www.govinfo.gov/link/plaw/110/public/315?link-type=pdf&.pdf">(PDF)</a>, on August 14, 2008, each appropriate Federal financial supervisory agency shall now consider, as a factor in assessing and taking into account the record of a financial institution's CRA compliance, any & all low-cost education loans provided by the financial institution to low-income borrowers. All the affected Federal financial supervisory agencies have one year after the date of enactment to issue rules in final form to implement the change into the <a href="/wiki/Code_of_Federal_Regulations" title="Code of Federal Regulations">Code of Federal Regulations</a> (CFR) according to <a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/billtext.xpd?bill=h110-4137&version=enr&nid=t0%3Aenr%3A244">Title X, Subtitle C, Section 1031</a> of the Act. <div class="mw-heading mw-heading3"><h3 id="CRA_reform_proposals">CRA reform proposals</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=15" title="Edit section: CRA reform proposals">edit</a>]</div> In 2007, <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> suggested further increasing the presence of Fannie Mae and Freddie Mac in the affordable housing market to help banks fulfill their CRA obligations by providing them with more opportunities to securitize CRA-related loans.<a href="#cite_note-69">[69]</a> On February 13, 2008, the <a href="/wiki/United_States_House_Committee_on_Financial_Services" title="United States House Committee on Financial Services">United States House Committee on Financial Services</a> held a hearing on the Community Reinvestment Act's impact on the provision of loans, investments and services to under-served communities and its effectiveness. There were 15 witnesses from government and the private sector.<a href="#cite_note-30years-5">[5]</a> On April 15, 2008, an FDIC official told the same committee that the FDIC was exploring offering incentives for banks to offer low-cost alternatives to <a href="/wiki/Payday_loan" title="Payday loan">payday loans</a>. Doing so would allow them favorable consideration under their Community Reinvestment Act responsibilities. It had recently begun a two-year pilot project with an initial group of 31 banks.<a href="#cite_note-70">[70]</a> Congresswoman <a href="/wiki/Eddie_Bernice_Johnson" title="Eddie Bernice Johnson">Eddie Bernice Johnson</a> introduced new legislation, the <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/111th-congress/house-bill/1479">Community Reinvestment Modernization Act of 2009</a>, on March 12, 2009, to expand the scope of CRA to include <a href="/wiki/Non-bank_financial_institution" title="Non-bank financial institution">non-bank financial institutions</a>, such as <a href="/wiki/Credit_union" title="Credit union">credit unions</a>.<a href="#cite_note-CRA_2009-71">[71]</a><a href="#cite_note-72">[72]</a> There were other attempts to legislatively "modernize" the Community Reinvestment Act in previous sessions of Congress, such as in <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/106th-congress/house-bill/4893">2000</a> / <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/107th-congress/house-bill/865">2001</a> and <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/110th-congress/house-bill/1289">2007</a>, among others. The <a href="/wiki/United_States_House_Committee_on_Financial_Services" title="United States House Committee on Financial Services">United States House Committee on Financial Services</a> held hearings on September 16, 2009 on "Proposals to Modernize the Community Reinvestment Act" with 10 witnesses, including Johnson.<a href="#cite_note-73">[73]</a> Another hearing was held on April 15, 2010 on "Perspectives and Proposals on the Community Reinvestment Act" with eight witnesses.<a href="#cite_note-74">[74]</a> On June 24, 2010, the <a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a> (OCC), <a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a>, <a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a> (FDIC), and the <a href="/wiki/Office_of_Thrift_Supervision" title="Office of Thrift Supervision">Office of Thrift Supervision</a> (OTS) jointly published proposed revisions to the rules implementing the Community Reinvestment Act.<a href="#cite_note-75">[75]</a> These agencies, with the <a href="/wiki/National_Credit_Union_Administration" title="National Credit Union Administration">National Credit Union Administration</a> (NCUA), make up the <a href="/wiki/Federal_Financial_Institutions_Examination_Council" title="Federal Financial Institutions Examination Council">Federal Financial Institutions Examination Council</a> (FFIEC), which coordinates regulation of financial institutions, including implementation of the Community Reinvestment Act. The proposed revisions to CRA rules are intended to revise the term "community development" to "include loans, investments and services that support, enable or facilitate projects or activities" that meet the criteria described in the <a href="/wiki/Housing_and_Economic_Recovery_Act_of_2008" title="Housing and Economic Recovery Act of 2008">Housing and Economic Recovery Act of 2008</a> (HERA) and are conducted in designated target areas identified under the Neighborhood Stabilization Program established by HERA and the <a href="/wiki/American_Recovery_and_Reinvestment_Act_of_2009" title="American Recovery and Reinvestment Act of 2009">American Recovery and Reinvestment Act of 2009</a> (ARRA). Among other things, this would expand the range of persons served to include middle-income households. [<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] In 2009, The Federal Reserve Banks of Boston and San Francisco published Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act, which assembles views from a wide range of academic researchers, regulators, community development practitioners and financial service industry representatives on how to improve the CRA going forward. <a href="#cite_note-76">[76]</a> The Obama administration has increased scrutiny of the provision of credit to poor and African American neighborhoods. Lenders have come under investigation for not operating in such areas, whether they have halted service there or have never operated in them before.<a href="#cite_note-77">[77]</a> Former <a href="/wiki/The_Atlantic" title="The Atlantic">Atlantic</a> associate editor Daniel Indiviglio attributes increasing noncompliance with the CRA to the tightening of lending requirements.<a href="#cite_note-78">[78]</a> In 2020, the OCC proposed a final rule<a href="#cite_note-79">[79]</a> for CRA that was billed as an attempt to modernize the act to keep with changes in the financial sector, particularly the growth of digital banking. It did this unilaterally without support from the FDIC and the Federal Reserve.<a href="#cite_note-80">[80]</a> Community groups were also opposed to the 2020 proposal. Led by the National Community Reinvestment Coalition (NCRC),<a href="#cite_note-81">[81]</a> 1,594 or 83% of the 1,922 unique comments submitted disagreed with the OCC’s rule; 674 of those comments cited NCRC or used some of the organization’s suggested language. An additional 10,000 comments from individuals, submitted through an online petition campaign, also supported NCRC’s point of view. Despite this opposition, the OCC published the final rule in 2020. Immediately after, NCRC and the California Reinvestment Coalition (CRC), represented by Democracy Forward and Farella Braun + Martel, filed a lawsuit seeking to vacate the OCC’s CRA rule,<a href="#cite_note-82">[82]</a> claiming that it violated the Administrative Procedure Act and was finalized without sufficient data to support the revisions. In February 2020, a federal judge rejected the OCC’s attempt to dismiss the lawsuit, a key hurdle in moving the claim forward.<a href="#cite_note-83">[83]</a> In January 2021, with the inauguration of President Joe Biden, the OCC went under new leadership, and on December 14, 2021, the OCC fully rescinded its 2020 CRA rule.<a href="#cite_note-84">[84]</a> Community groups submitted a position paper<a href="#cite_note-85">[85]</a> on March 1, 2022, to the OCC, FDIC and Federal Reserve about the key reforms they wanted to see. These included a consideration of race on CRA exams, more objective measures of performance that reduce ratings inflation, and expanded CRA assessment areas that include not only where banks have branches but also areas with significant amounts of bank lending and/or deposit activity. The groups also recommended that CRA be expanded to apply throughout the financial sector, beyond banks.<a href="#cite_note-86">[86]</a> This would require Congressional legislation, but there were precedents in state CRA laws<a href="#cite_note-87">[87]</a> that apply to mortgage companies and credit unions, not just banks. New regulations with the support of consumer advocates were proposed in October 2023, that would count online loans to target demographics regardless of geographic location. These were the subject of a lawsuit by the American Bankers Association.<a href="#cite_note-88">[88]</a> <div class="mw-heading mw-heading2"><h2 id="Criticisms">Criticisms</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=16" title="Edit section: Criticisms">edit</a>]</div> <div class="mw-heading mw-heading3"><h3 id="Effectiveness">Effectiveness</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=17" title="Edit section: Effectiveness">edit</a>]</div> The first major research study of CRA was the 1993 book Community Reinvestment Performance (1993, Probus Publishing) by Kenneth H. Thomas, Ph.D., a Finance Lecturer at The Wharton School of the University of Pennsylvania. The main conclusion of the book, which was based on an analysis of the results of 6,706 CRA exams, was that the law was needed and it works but it must be improved, mainly through better and more objective enforcement to avoid "CRA Grade Inflation". Many of the recommendations in that book were included in the 1995 CRA reform. The CRA Handbook (1998, McGraw Hill) carefully examined over 1,500 CRA exams under the 1995 reforms and identified further CRA Grade Inflation and made specific recommendations to improve the law's effectiveness, primarily through more objective and quantifiable standards. Some economists have questioned if the CRA was – or at least had become – irrelevant, because it was not needed to encourage banks to make profitable loans to a variety of borrowers.<a href="#cite_note-89">[89]</a><a href="#cite_note-90">[90]</a> In a 2003 research paper, economists at the Federal Reserve could not find clear evidence that the CRA increased lending and home ownership more in low income neighborhoods than in higher income ones.<a href="#cite_note-Avery-91">[91]</a> A 2008 <a href="/wiki/Competitive_Enterprise_Institute" title="Competitive Enterprise Institute">Competitive Enterprise Institute</a> study resulted in a similar finding.<a href="#cite_note-Minton-92">[92]</a> Former Federal Reserve chair <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> has stated that an underlying assumption of the CRA – that more lending equals better outcomes for local communities – may not always be true, pointing to "recent problems in mortgage markets". However, he notes that at least in some instances, "the CRA has served as a catalyst, inducing banks to enter under-served markets that they might otherwise have ignored".<a href="#cite_note-Bernanke-4">[4]</a> The Woodstock Institute, a Chicago-based policy and advocacy nonprofit, found in an analysis of 1996 Chicago-area survey data that low income areas still lagged behind in access to commercial loans. Most small business loans made by CRA regulated banks went to higher income areas; 16.6% in low-income areas, 18.4% in low- and moderate-income tracts; 21.8% in middle-income areas and 23.1% in upper-income areas.<a href="#cite_note-Woodstock-93">[93]</a> In a 1998 paper, Alex Schwartz of the Fannie Mae Foundation found that CRA agreements were "consistently successful in meeting their goals for mortgages, investments in low-income housing tax credits, grant giving to community-based organizations, and in opening (and keeping open) inner-city bank branches."<a href="#cite_note-Schwartz-40">[40]</a> In a 2000 report for the US Treasury, several economists concluded that the CRA had the intended impact of improving access to credit for minority and low-to-moderate-income consumers.<a href="#cite_note-Litan-94">[94]</a> In a 2005 paper for the <a href="/wiki/New_York_University_Law_Review" title="New York University Law Review">New York University Law Review</a>, <a href="/wiki/Michael_S._Barr" class="mw-redirect" title="Michael S. Barr">Michael S. Barr</a>, professor at the <a href="/wiki/University_of_Michigan_Law_School" title="University of Michigan Law School">University of Michigan Law School</a>, presented evidence to demonstrate that the CRA had overcome <a href="/wiki/Market_failure" title="Market failure">market failures</a> to increase access to credit for low-income, moderate-income, and minority borrowers at relatively low cost. He contends that the CRA is justified, has resulted in progress, and should be continued.<a href="#cite_note-BarrNYU-95">[95]</a> Speaking to the February 2008 <a href="/wiki/United_States_House_Committee_on_Financial_Services" title="United States House Committee on Financial Services">Congressional Committee on Financial Services</a> hearing on the CRA, Sandra L. Thompson, Director of the Division of Supervision and Consumer Protection at the FDIC, lauded the positive impact of CRA, noting that, "studies have pointed to increases in lending to low- and moderate-income customers and minorities in the decades since the CRA's passage." She cited a study by the Joint Center for Housing Studies at Harvard University, that found that "data for 1993 through 2000 show home purchase lending to low- and moderate-income people living in low- and moderate-income neighborhoods grew by 94 percent – more than in any of the other income categories".<a href="#cite_note-SandraThompson-36">[36]</a> In his statement before the same hearing, <a href="/wiki/New_York_University" title="New York University">New York University</a> economics professor Larry White stated that regulator efforts to "lean on" banks in vague and subjective ways to make loans is an "inappropriate instrument for achieving those goals". In a world of national banking enterprises, these policies are more likely to drive institutions out of neighborhoods. He stated that better ways to accomplish the goals would be vigorous enforcement of anti-discrimination laws, of antitrust laws to promote competition, and federal funding of worthy projects directly through an "on-budget and transparent process" like the <a href="/wiki/Community_Development_Financial_Institutions_Fund" title="Community Development Financial Institutions Fund">Community Development Financial Institutions Fund</a>.<a href="#cite_note-White02-13-08-96">[96]</a> According to a 2012 study "credit markets enabled a substantial fraction of Hispanic families to live in neighbourhoods with fewer black families, even though a substantial fraction of black families were moving to more racially integrated areas. The net effect is that credit markets increased racial segregation".<a href="#cite_note-97">[97]</a> Politico has reported that the Community Reinvestment Act may sometimes push poor people out of their own neighborhoods by facilitating investment by outsiders.<a href="#cite_note-98">[98]</a> <div class="mw-heading mw-heading3"><h3 id="Sound_practices_and_profitability">Sound practices and profitability</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=18" title="Edit section: Sound practices and profitability">edit</a>]</div> According to a 2000 <a href="/wiki/United_States_Department_of_the_Treasury" title="United States Department of the Treasury">United States Department of the Treasury</a> study of lending trends in 305 U.S. cities between 1993 and 1998, $467 billion in mortgage credit flowed from CRA-covered lenders to low- and medium-income borrowers and areas. In that period, the total number of loans to poorer Americans by CRA-eligible institutions rose by 39% while loans to wealthier individuals by CRA-covered institutions rose by 17%. The share of total US lending to low and medium income borrowers rose from 25% in 1993 to 28% in 1998 as a consequence.<a href="#cite_note-baseline16-17-99">[99]</a> Responding to concerns that the CRA would lower bank profitability, a 1997 research paper by economists at the Federal Reserve found that "[CRA] lenders active in lower-income neighborhoods and with lower-income borrowers appear to be as profitable as other mortgage-oriented commercial banks".<a href="#cite_note-Canner-100">[100]</a> Concerns at the time over the 1995 regulatory change causing an increase in the inability of financial institutions to expand through mergers or acquisition due to regulatory denial based on poor CRA compliance were unfounded. Over the 1993-97 period, one regulatory agency, the Federal Reserve Board, actually approved more applications than the average percentages of those without a detailed CRA review taking place. Of the 1,100 merger or acquisition cases the FRB reviewed on average per year where the relevant institutions were subject to CRA, only 70 instances on average were identified with potential CRA problems regardless of public opposition or internal reporting raising the concern. On average, 22 of these were ultimately identified as CRA compliance being the primary reason for both application withdrawal or FRB denial.<a href="#cite_note-Gramlich1998-101">[101]</a> In October 1997, First Union Capital Markets and Bear, Stearns & Co launched the first publicly available <a href="/wiki/Security_(finance)" title="Security (finance)">securitization</a> of Community Reinvestment Act loans, issuing $384.6 million of such securities. The securities were guaranteed by Freddie Mac and had an implied "AAA" rating.<a href="#cite_note-ABA-102">[102]</a><a href="#cite_note-103">[103]</a> The public offering was several times oversubscribed, predominantly by money managers and insurance companies who were not buying them for CRA credit.<a href="#cite_note-Westhoff-104">[104]</a> In October 2000, to expand the <a href="/wiki/Secondary_market" title="Secondary market">secondary market</a> for affordable community-based mortgages and to increase liquidity for CRA-eligible loans, Fannie Mae committed to purchase and securitize $2 billion of "MyCommunityMortgage" loans.<a href="#cite_note-CSRwire-105">[105]</a><a href="#cite_note-mcm-Fannie-106">[106]</a> In November 2000 Fannie Mae announced that the <a href="/wiki/Department_of_Housing_and_Urban_Development" class="mw-redirect" title="Department of Housing and Urban Development">Department of Housing and Urban Development</a> ("HUD") would soon require it to dedicate 50% of its business to low- and moderate-income families." It stated that since 1997 Fannie Mae had done nearly $7 billion in CRA business with depository institutions, but its goal was $20 billion.<a href="#cite_note-ABA-102">[102]</a> In 2001 Fannie Mae announced that it had acquired $10 billion in specially-targeted Community Reinvestment Act (CRA) loans more than one and a half years ahead of schedule, and announced its goal to finance over $500 billion in CRA business by 2010, about one third of loans anticipated to be financed by Fannie Mae during that period.<a href="#cite_note-107">[107]</a> Speaking in 2007, the 30th anniversary of the CRA, <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a>, Chair of the <a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a> since 2006, stated that the high costs of gathering information, "may have created a 'first-mover' problem, in which each financial institution has an incentive to let one of its competitors be the first to enter an underserved market". Bernanke notes that at least in some instances, "the CRA has served as a catalyst, inducing banks to enter underserved markets that they might otherwise have ignored". In the same 2007 speech, Bernanke also noted that, "managers of financial institutions found that these loan portfolios, if properly underwritten and managed, could be profitable" and that the loans "usually did not involve disproportionately higher levels of default".<a href="#cite_note-Bernanke-4">[4]</a> <div class="mw-heading mw-heading3"><h3 id="Housing_advocacy_groups">Housing advocacy groups</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=19" title="Edit section: Housing advocacy groups">edit</a>]</div> CRA regulations give community groups the right to comment on or protest banks' purported non-compliance with CRA.<a href="#cite_note-Ardalan-7">[7]</a> Such comments could help or hinder banks' planned expansions. Groups at first only slowly took advantage of these rights.<a href="#cite_note-Schwartz-40">[40]</a> Regulatory changes during the <a href="/wiki/Bill_Clinton" title="Bill Clinton">Clinton</a> administration allowed these community groups better access to CRA information and enabled them to increase their activities.<a href="#cite_note-Bernanke-4">[4]</a><a href="#cite_note-Braunstein-35">[35]</a><a href="#cite_note-Seidman-108">[108]</a> In an article for the <a href="/wiki/New_York_Post" title="New York Post">New York Post</a>, economist Stan Liebowitz wrote that community activists' intervention at yearly bank reviews resulted in their obtaining large amounts of money from banks, since poor reviews could lead to frustrated merger plans and even legal challenges by the Justice Department.<a href="#cite_note-Liebowitz-109">[109]</a> Michelle Minton noted that <a href="/wiki/Chase_(bank)" class="mw-redirect" title="Chase (bank)">Chase Manhattan</a> and <a href="/wiki/J.P._Morgan" class="mw-redirect" title="J.P. Morgan">J.P. Morgan</a> donated hundreds of thousands of dollars to <a href="/wiki/Association_of_Community_Organizations_for_Reform_Now" title="Association of Community Organizations for Reform Now">ACORN</a> around the same time they were to apply for permission to merge and needed to comply with CRA regulations.<a href="#cite_note-Minton-92">[92]</a> According to The New York Times, some of these housing advocacy groups provided early warnings about the potential impact of lowered credit standards and the resulting unsupportable increase in real estate values they were causing in low to moderate income communities. Ballooning mortgages on rental properties threatened to require large rent increases from low and moderate income tenants that could ill afford them.<a href="#cite_note-sickness-110">[110]</a> According to Inner City Press, "Bronx-based Fair Finance Watch commented to the Federal Reserve about the practices of now-defunct non-bank subprime lender <a href="/wiki/New_Century" class="mw-redirect" title="New Century">New Century</a>, when <a href="/wiki/U.S._Bancorp" title="U.S. Bancorp">U.S. Bancorp</a> bought warrants for 24% of New Century's stock. The Fed, rather than take any action on New Century, merely waited until U.S. Bancorp sold off some of the warrants, and then said the issue was moot." However, subprime loans were so profitable, that they were aggressively marketed in low-and moderate-income communities, even over the objections and warnings of housing advocacy groups like ACORN.<a href="#cite_note-greed-111">[111]</a> <div class="mw-heading mw-heading3"><h3 id="Predatory_lending">Predatory lending</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=20" title="Edit section: Predatory lending">edit</a>]</div> In a 2002 study exploring the relationship between the CRA and lending looked at as predatory, Kathleen C. Engel and Patricia A. McCoy noted that banks could receive CRA credit by lending or brokering loans in lower-income areas that would be considered a risk for ordinary lending practices. CRA regulated banks may also inadvertently facilitate these lending practices by financing lenders. They noted that CRA regulations, as then administered and carried out by Fannie Mae and Freddie MAC, did not penalize banks that engaged in these lending practices. They recommended that the federal agencies use the CRA to sanction behavior that either directly or indirectly increased predatory lending practices by lowering the CRA rating of any bank that facilitated in these lending practices.<a href="#cite_note-112">[112]</a> The FDIC has tried to address this issue by "stopping abusive practices through the examination process and supervisory actions; encouraging banks to serve all members and areas of their communities fairly; and providing information and financial education to help consumers make informed choices". FDIC policy currently states that "predatory lending can have a negative effect on a bank's CRA performance."<a href="#cite_note-113">[113]</a> Competition also played a part in lending practices. In order to gain market share lenders lowered their standards.<a href="#cite_note-114">[114]</a> <div class="mw-heading mw-heading3"><h3 id="Relationship_to_the_2008_financial_crisis">Relationship to the 2008 financial crisis</h3>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=21" title="Edit section: Relationship to the 2008 financial crisis">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a> and <a href="/wiki/Global_financial_crisis_of_2008%E2%80%932009" class="mw-redirect" title="Global financial crisis of 2008–2009">Global financial crisis of 2008–2009</a></div> Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry. He charged the Federal Reserve with ignoring the negative impact of the CRA.<a href="#cite_note-Liebowitz-109">[109]</a> According to <a href="/wiki/Manhattan_Institute_for_Policy_Research" title="Manhattan Institute for Policy Research">Manhattan Institute</a> scholar Howard Husock, the CEO of a midsize bank reported that 20% of his institution's CRA-related mortgages were delinquent in their first year and probably 7% would end in foreclosure.<a href="#cite_note-HusockIll-115">[115]</a> In a commentary for <a href="/wiki/CNN" title="CNN">CNN</a>, Congressman <a href="/wiki/Ron_Paul" title="Ron Paul">Ron Paul</a>, who serves on the <a href="/wiki/United_States_House_Committee_on_Financial_Services" title="United States House Committee on Financial Services">United States House Committee on Financial Services</a>, charged the CRA with "forcing banks to lend to people who normally would be rejected as bad credit risks."<a href="#cite_note-116">[116]</a> In a <a href="/wiki/The_Wall_Street_Journal" title="The Wall Street Journal">The Wall Street Journal</a> opinion piece, economist <a href="/wiki/Russell_Roberts_(economist)" class="mw-redirect" title="Russell Roberts (economist)">Russell Roberts</a> wrote that the CRA subsidized low-income housing by pressuring banks to serve poor borrowers and poor regions of the country.<a href="#cite_note-117">[117]</a> Other economists have examined the issue and concluded that the CRA did not contribute to the financial crisis, notably economist <a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a>,<a href="#cite_note-krugman.blogs.nytimes.com-118">[118]</a> Tim Westrich of the <a href="/wiki/Center_for_American_Progress" title="Center for American Progress">Center for American Progress</a>,<a href="#cite_note-119">[119]</a> Robert Gordon of the <a href="/wiki/American_Prospect" class="mw-redirect" title="American Prospect">American Prospect</a>,<a href="#cite_note-120">[120]</a> Ellen Seidman of the <a href="/wiki/New_America_Foundation" class="mw-redirect" title="New America Foundation">New America Foundation</a>,<a href="#cite_note-121">[121]</a> <a href="/wiki/Daniel_Gross_(journalist)" title="Daniel Gross (journalist)">Daniel Gross</a> of <a href="/wiki/Slate_(magazine)" title="Slate (magazine)">Slate</a>,<a href="#cite_note-122">[122]</a> <a href="/wiki/Dean_Baker" title="Dean Baker">Dean Baker</a> of The <a href="/wiki/Center_for_Economic_and_Policy_Research" title="Center for Economic and Policy Research">Center For Economic and Policy Research</a>,<a href="#cite_note-123">[123]</a> and Aaron Pressman from <a href="/wiki/BusinessWeek" class="mw-redirect" title="BusinessWeek">BusinessWeek</a>.<a href="#cite_note-124">[124]</a> Law professor <a href="/wiki/Michael_Barr_(Treasury_official)" class="mw-redirect" title="Michael Barr (Treasury official)">Michael S. Barr</a>, a Treasury Department official under President Clinton,<a href="#cite_note-statement-58">[58]</a><a href="#cite_note-125">[125]</a> stated that approximately 50% of subprime loans were made by independent mortgage companies that were not regulated by the CRA, and another 25% to 30% came from only partially CRA regulated bank subsidiaries and affiliates. Barr noted that institutions fully regulated by CRA made "perhaps one in four" sub-prime loans, and that "the worst and most widespread abuses occurred in the institutions with the least federal oversight".<a href="#cite_note-Barr-126">[126]</a> According to <a href="/wiki/American_Enterprise_Institute" title="American Enterprise Institute">American Enterprise Institute</a> fellow Edward Pinto, <a href="/wiki/Bank_of_America" title="Bank of America">Bank of America</a> reported in 2008 that its CRA portfolio, which constituted 7% of its owned residential mortgages, was responsible for 29 percent of its losses. He charged that "approximately 50 percent of CRA loans for single-family residences ... [had] characteristics that indicated high credit risk", yet, per the standards used by the various government agencies to evaluate CRA performance at the time, were not counted as "subprime" because borrower credit worthiness was not considered.<a href="#cite_note-PintoToxic-127">[127]</a><a href="#cite_note-128">[128]</a><a href="#cite_note-defchange1-129">[129]</a><a href="#cite_note-defchange2-130">[130]</a> Krugman argues that Pinto's category of "other high-risk mortgages" incorrectly includes loans that were not high-risk, that instead were like traditional conforming mortgages.<a href="#cite_note-131">[131]</a> Gene Epstein of <a href="/wiki/Barron%27s_(newspaper)" class="mw-redirect" title="Barron's (newspaper)">Barron's</a> disputed Krugman's claims and those of the article he cited as erroneous and misleading.<a href="#cite_note-132">[132]</a> Another CRA critic, Joseph Fried, concedes that "some of this CRA subprime lending might have taken place, even in the absence of CRA. For that reason, the direct impact of CRA on the volume of subprime lending is not certain."<a href="#cite_note-133">[133]</a> A study by the economists, Agarwal, Benmelich, and Bergman, found that banks undergoing CRA-related regulatory exams took additional mortgage lending risk.<a href="#cite_note-134">[134]</a> The <a href="/wiki/Financial_Crisis_Inquiry_Commission" title="Financial Crisis Inquiry Commission">Financial Crisis Inquiry Commission</a> formed by the US Congress in 2009 to investigate the causes of the 2008 financial crisis, concluded "the CRA was not a significant factor in subprime lending or the crisis".<a href="#cite_note-135">[135]</a> <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a>, then Chairman of the <a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve</a>, wrote that experience and research contradict "the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties."<a href="#cite_note-136">[136]</a> Government economists and officials, including <a href="/wiki/Janet_Yellen" title="Janet Yellen">Janet Yellen</a>, then President and CEO of the Federal Reserve Bank of San Francisco,<a href="#cite_note-Yellen3-31-08-137">[137]</a> FDIC Chair <a href="/wiki/Sheila_Bair" title="Sheila Bair">Sheila Bair</a>,<a href="#cite_note-bair1208-138">[138]</a> Comptroller of the Currency <a href="/wiki/John_C._Dugan" title="John C. Dugan">John C. Dugan</a>,<a href="#cite_note-139">[139]</a> and Federal Reserve Governor <a href="/wiki/Randall_Kroszner" title="Randall Kroszner">Randall Kroszner</a>,<a href="#cite_note-140">[140]</a> also hold that the CRA did not significantly contribute to the subprime crisis. According to Yellen, former Chair of the Federal Reserve, independent mortgage companies made risky "higher-priced" loans at more than twice the rate of the banks and thrifts; most CRA loans were responsibly made, and were not the "higher-priced" loans that have contributed to the current crisis.<a href="#cite_note-Yellen3-31-08-137">[137]</a><a href="#cite_note-HDMA2006-141">[141]</a><a href="#cite_note-CRA25th-142">[142]</a> During a 2008 <a href="/wiki/United_States_House_Committee_on_Oversight_and_Government_Reform" class="mw-redirect" title="United States House Committee on Oversight and Government Reform">House Committee on Oversight and Government Reform</a> hearing on the role of Fannie Mae and Freddie Mac in the financial crisis, including in relation to the Community Reinvestment Act, when asked if the CRA provided the "fuel" for increasing subprime loans, former Fannie Mae CEO <a href="/wiki/Franklin_Raines" title="Franklin Raines">Franklin Raines</a> said it might have been a catalyst encouraging bad behavior, but it was difficult to know. Raines also cited information that only a small percentage of risky loans originated as a result of the CRA.<a href="#cite_note-Raines2008-143">[143]</a> In 2015, Federal Reserve Board economists Neil Bhutta and Daniel Ringo published a summary of available studies on the issue. They concluded that "CRA-related loans were a small fraction of the subprime market during the mortgage boom", and hence it was not a significant contributor to the financial crisis.<a href="#cite_note-144">[144]</a> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=22" title="Edit section: See also">edit</a>]</div> <ul><li><a href="/wiki/Fannie_Mae" title="Fannie Mae">Fannie Mae</a></li> <li><a href="/wiki/Freddie_Mac" title="Freddie Mac">Freddie Mac</a></li> <li><a href="/wiki/Federal_Housing_Administration" title="Federal Housing Administration">Federal Housing Administration</a></li> <li><a href="/wiki/Housing_and_Community_Development_Act_of_1987" title="Housing and Community Development Act of 1987">Housing and Community Development Act of 1987</a></li> <li><a href="/wiki/Housing_and_Community_Development_Act_of_1992" title="Housing and Community Development Act of 1992">Housing and Community Development Act of 1992</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=23" title="Edit section: References">edit</a>]</div> Notes <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-fdic.gov-1"><a href="#cite_ref-fdic.gov_1-0">^</a> <a rel="nofollow" class="external text" href="http://www.fdic.gov/regulations/laws/rules/6500-2515.html#6500hcda1977">Text of Housing and Community Development Act of 1977 — Title VIII (Community Reinvestment)</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080916032800/http://www.fdic.gov/regulations/laws/rules/6500-2515.html">Archived</a> 2008-09-16 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </li> <li id="cite_note-ABC-2"><a href="#cite_ref-ABC_2-0">^</a> <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFAveryBosticCanner2000" class="citation web cs1">Avery, Robert B.; Bostic, Raphael W.; Canner, Glenn B. (2000-11-01). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20081007045205/http://www.clevelandfed.org/research/commentary/2000/1100.htm">"The Performance and Profitability of CRA-Related Lending"</a>. Economic Commentary. Federal Reserve Bank of Cleveland. Archived from <a rel="nofollow" class="external text" href="http://www.clevelandfed.org/research/Commentary/2000/1100.htm">the original</a> on 2008-10-07. Retrieved 2008-10-05.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Economic+Commentary&rft.atitle=The+Performance+and+Profitability+of+CRA-Related+Lending&rft.date=2000-11-01&rft.aulast=Avery&rft.aufirst=Robert+B.&rft.au=Bostic%2C+Raphael+W.&rft.au=Canner%2C+Glenn+B.&rft_id=http%3A%2F%2Fwww.clevelandfed.org%2Fresearch%2FCommentary%2F2000%2F1100.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-Federal_Reserve-3">^ <a href="#cite_ref-Federal_Reserve_3-0">a</a> <a href="#cite_ref-Federal_Reserve_3-1">b</a> <a href="#cite_ref-Federal_Reserve_3-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.federalreserve.gov/dcca/cra">"Community Reinvestment Act"</a>. Federal Reserve Board (FRB). Retrieved 2008-10-05.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Community+Reinvestment+Act&rft.pub=Federal+Reserve+Board+%28FRB%29&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fdcca%2Fcra&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-Bernanke-4">^ <a href="#cite_ref-Bernanke_4-0">a</a> <a href="#cite_ref-Bernanke_4-1">b</a> <a href="#cite_ref-Bernanke_4-2">c</a> <a href="#cite_ref-Bernanke_4-3">d</a> <a href="#cite_ref-Bernanke_4-4">e</a> <a href="#cite_ref-Bernanke_4-5">f</a> <a href="#cite_ref-Bernanke_4-6">g</a> <a href="#cite_ref-Bernanke_4-7">h</a> <a href="#cite_ref-Bernanke_4-8">i</a> <a href="#cite_ref-Bernanke_4-9">j</a> <a href="#cite_ref-Bernanke_4-10">k</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBernanke2007" class="citation web cs1">Bernanke, Ben S. (March 30, 2007). <a rel="nofollow" class="external text" href="https://www.federalreserve.gov/newsevents/speech/Bernanke20070330a.htm">"The Community Reinvestment Act: Its Evolution and New Challenges"</a>. Prepared Speech by the Chairman of the Federal Reserve System before the Community Affairs Research Conference. Federal Reserve System (FRB).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Prepared+Speech+by+the+Chairman+of+the+Federal+Reserve+System+before+the+Community+Affairs+Research+Conference&rft.atitle=The+Community+Reinvestment+Act%3A+Its+Evolution+and+New+Challenges&rft.date=2007-03-30&rft.aulast=Bernanke&rft.aufirst=Ben+S.&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Fspeech%2FBernanke20070330a.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>CRA is designed as a simple test for how financial institutions are meeting obligations to serve the convenience and needs of the local market where they are located. This principle is one that federal law governing deposit insurance, bank charters, and bank mergers had embodied long before the enactment of CRA.</blockquote> </li> <li id="cite_note-30years-5">^ <a href="#cite_ref-30years_5-0">a</a> <a href="#cite_ref-30years_5-1">b</a> <a rel="nofollow" class="external text" href="http://financialservices.house.gov/hearing110/ht021308.shtml">"The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090430023055/http://financialservices.house.gov/hearing110/ht021308.shtml">Archived</a> 2009-04-30 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, February 13, 2008 This hearing before the full House Committee on Financial Services examined the impact of CRA on the provision of loans, investments and services to under-served communities. In addition to exploring CRA's success, the hearing hoped to examine challenges that prevent the law from being more effective for the future. | <a rel="nofollow" class="external text" href="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_house_hearings&docid=f:41181.pdf">Printed Hearing: 110-90</a>(PDF) </li> <li id="cite_note-St._Louis_Fed-6">^ <a href="#cite_ref-St._Louis_Fed_6-0">a</a> <a href="#cite_ref-St._Louis_Fed_6-1">b</a> <a href="#cite_ref-St._Louis_Fed_6-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100615005155/http://stlouisfed.org/community_development/cra.cfm#main">"The Community Reinvestment Act"</a>. Federal Reserve Bank of St. Louis. Archived from <a rel="nofollow" class="external text" href="http://www.stlouisfed.org/community_development/cra.cfm#main">the original</a> on 2010-06-15. Retrieved 2008-10-06.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Community+Reinvestment+Act&rft.pub=Federal+Reserve+Bank+of+St.+Louis&rft_id=http%3A%2F%2Fwww.stlouisfed.org%2Fcommunity_development%2Fcra.cfm%23main&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-Ardalan-7">^ <a href="#cite_ref-Ardalan_7-0">a</a> <a href="#cite_ref-Ardalan_7-1">b</a> Kavous Ardalan, <a rel="nofollow" class="external text" href="http://findarticles.com/p/articles/mi_qa5537/is_200601/ai_n21406758/pg_1?tag=artBody;col1bnet">Community Reinvestment Act: Review of Empirical Evidence</a>, Academy of Banking Studies Journal, 2006. </li> <li id="cite_note-Bernanke8-8"><a href="#cite_ref-Bernanke8_8-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.federalreserve.gov/newsevents/speech/Bernanke20070330a.htm#fn8">"Prepared Speech, Footnote #8, The CRA: Its Evolution and New Challenges"</a>. Ben S. Bernanke, Chairman of the Federal Reserve System. before the Community Affairs Research Conference. 2007-03-30. p. Federal Reserve System (FRB).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Ben+S.+Bernanke%2C+Chairman+of+the+Federal+Reserve+System&rft.atitle=Prepared+Speech%2C+Footnote+%238%2C+The+CRA%3A+Its+Evolution+and+New+Challenges&rft.pages=Federal+Reserve+System+%28FRB%29&rft.date=2007-03-30&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Fspeech%2FBernanke20070330a.htm%23fn8&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-FFIEC-9"><a href="#cite_ref-FFIEC_9-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ffiec.gov/cra/history.htm">"Community Reinvestment Act: Background & Purpose"</a>. FFIEC. Retrieved 2008-10-06.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Community+Reinvestment+Act%3A+Background+%26+Purpose&rft.pub=FFIEC&rft_id=http%3A%2F%2Fwww.ffiec.gov%2Fcra%2Fhistory.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-FBAdefinition-10"><a href="#cite_ref-FBAdefinition_10-0">^</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/12/1813-#z">The Federal Banking Agency as defined under 12 U.S.C. 1813(z)</a> </li> <li id="cite_note-FFIECregs-11">^ <a href="#cite_ref-FFIECregs_11-0">a</a> <a href="#cite_ref-FFIECregs_11-1">b</a> <a rel="nofollow" class="external text" href="https://www.ffiec.gov/cra/regulation.htm">FFIEC Links to Federal Agency's CRA Regulations</a> </li> <li id="cite_note-12CFR25-12"><a href="#cite_ref-12CFR25_12-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080605080140/http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=cd214ac86b0ac3af703925df92c035d0&tpl=%2Fecfrbrowse%2FTitle12%2F12cfr25_main_02.tpl">"Community Reinvestment Act and Interstate Deposit Production Regulations"</a>. 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Retrieved 2009-04-16.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Code+of+Federal+Regulations%2C+Title+12%2C+Chapter+I%2C+Part+25&rft.atitle=Community+Reinvestment+Act+and+Interstate+Deposit+Production+Regulations&rft_id=http%3A%2F%2Fecfr.gpoaccess.gov%2Fcgi%2Ft%2Ftext%2Ftext-idx%3Fc%3Decfr%26tpl%3D%2Fecfrbrowse%2FTitle12%2F12cfr25_main_02.tpl&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-OCC-CRA-13"><a href="#cite_ref-OCC-CRA_13-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.occ.treas.gov/crainfo.htm">"Community Reinvestment Act (CRA) Information"</a>. Office of the Comptroller of the Currency (OCC). 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Code of Federal Regulations, Title 12, Chapter II, Subchapter A, Part 203. gpoaccess.gov. Archived from <a rel="nofollow" class="external text" href="http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&tpl=/ecfrbrowse/Title12/12cfr203_main_02.tpl">the original</a> on 2009-02-02. Retrieved 2009-04-16.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Code+of+Federal+Regulations%2C+Title+12%2C+Chapter+II%2C+Subchapter+A%2C+Part+203&rft.atitle=Home+Mortgage+Disclosure+%28Regulation+C%29&rft_id=http%3A%2F%2Fecfr.gpoaccess.gov%2Fcgi%2Ft%2Ftext%2Ftext-idx%3Fc%3Decfr%26tpl%3D%2Fecfrbrowse%2FTitle12%2F12cfr203_main_02.tpl&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-FRB-HMDA-22"><a href="#cite_ref-FRB-HMDA_22-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ffiec.gov/hmda/history.htm">"Home Mortgage Disclosure Act (HMDA) Information"</a>. Federal Financial Institutions Examination Council (FFIEC). 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The New York Times. 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FRB.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=United+States+House+Committee+on+Financial+Services&rft.atitle=Prepared+Testimony+of+Ms.+Sandra+F.+Braunstein%2C+Director%2C+Division+of+Consumer+and+Community+Affairs%2C+FRB%3B+Serial+110-90%2C+Hearing+on+The+Community+Reinvestment+Act%3A+Thirty+Years+of+Accomplishments%2C+but+Challenges+Remain&rft.date=2008-02-13&rft.aulast=Braunstein&rft.aufirst=Sandra+F.&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Ftestimony%2Fbraunstein20080213a.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-SandraThompson-36">^ <a href="#cite_ref-SandraThompson_36-0">a</a> <a href="#cite_ref-SandraThompson_36-1">b</a> <a href="#cite_ref-SandraThompson_36-2">c</a> <a rel="nofollow" class="external text" href="http://www.fdic.gov/news/news/speeches/archives/2008/chairman/spfeb1308.html">Prepared Testimony of Ms. Sandra L. Thompson</a>, Director, Division of Supervision and Consumer Protection, FDIC, before the Committee on Financial Services, U.S. House of Representatives, February 13, 2008. </li> <li id="cite_note-civil-1961-37"><a href="#cite_ref-civil-1961_37-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="http://www.law.umaryland.edu/marshall/usccr/documents/cr11961bk4.pdf">Report by the U.S. Commission on Civil Rights</a> (PDF). Vol. 4. United States Commission on Civil Rights. 1961. Retrieved 2008-10-06.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Report+by+the+U.S.+Commission+on+Civil+Rights&rft.pub=United+States+Commission+on+Civil+Rights&rft.date=1961&rft_id=http%3A%2F%2Fwww.law.umaryland.edu%2Fmarshall%2Fusccr%2Fdocuments%2Fcr11961bk4.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-jackson-38"><a href="#cite_ref-jackson_38-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJackson1985" class="citation book cs1"><a href="/wiki/Kenneth_T._Jackson" title="Kenneth T. Jackson">Jackson, Kenneth T.</a> (1985). <a href="/wiki/Crabgrass_Frontier:_The_Suburbanization_of_the_United_States" class="mw-redirect" title="Crabgrass Frontier: The Suburbanization of the United States">Crabgrass frontier: The suburbanization of the United States</a>. 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National Urban Policy Message to Congress. The American Presidency Project, U. of C. 1978-03-27. p. President Carter. Archived from <a rel="nofollow" class="external text" href="http://www.presidency.ucsb.edu/ws/print.php?pid=30567">the original</a> on 2016-03-03. Retrieved 2009-04-19.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=National+Urban+Policy+Message+to+Congress&rft.atitle=Role+of+Private+Financial+Institutions&rft.pages=President+Carter&rft.date=1978-03-27&rft_id=http%3A%2F%2Fwww.presidency.ucsb.edu%2Fws%2Fprint.php%3Fpid%3D30567&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>An effective urban strategy must involve private financial institutions. I am asking the independent financial regulatory agencies to develop appropriate actions, consistent with safe, sound and prudent lending practices, to encourage financial institutions to play a greater role in meeting the credit needs of their communities. First, I am requesting that financial regulatory agencies determine what further actions are necessary to halt the practice of redlining—the refusal to extend credit without a sound economic justification. I will encourage those agencies to develop strong, consistent and effective regulations to implement the Community Reinvestment Act</blockquote> </li> <li id="cite_note-Schwartz-40">^ <a href="#cite_ref-Schwartz_40-0">a</a> <a href="#cite_ref-Schwartz_40-1">b</a> <a href="#cite_ref-Schwartz_40-2">c</a> Schwartz, A., <a rel="nofollow" class="external text" href="http://www.innovations.harvard.edu/showdoc.html?id=3275">From confrontation to collaboration?</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20081206015637/http://www.innovations.harvard.edu/showdoc.html?id=3275">Archived</a> 2008-12-06 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, Banks, community groups, and the implementation of community reinvestment agreements, Fannie Mae Foundation, 3, pp. 631-662 (1998). </li> <li id="cite_note-Sec._1212-41"><a href="#cite_ref-Sec._1212_41-0">^</a> <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/101st-congress/house-bill/1278">H.R. 1278</a> Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Title XII, Section 1212, <a href="/wiki/101st_Congress" class="mw-redirect" title="101st Congress">101st Congress</a>. </li> <li id="cite_note-Sec._222-42"><a href="#cite_ref-Sec._222_42-0">^</a> <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/102nd-congress/senate-bill/543">S. 543</a>, Federal Deposit Insurance Corporation Improvement Act of 1991, Title II, Subtitle B, Section 222, <a href="/wiki/102nd_Congress" class="mw-redirect" title="102nd Congress">102nd Congress</a>. </li> <li id="cite_note-Sec._402-43"><a href="#cite_ref-Sec._402_43-0">^</a> <a rel="nofollow" class="external text" href="https://www.congress.gov/bill/102nd-congress/house-bill/3435">H.R. 3435</a>, Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991, Title IV, Section 402, <a href="/wiki/102nd_Congress" class="mw-redirect" title="102nd Congress">102nd Congress</a>. </li> <li id="cite_note-FDIC-1994-44"><a href="#cite_ref-FDIC-1994_44-0">^</a> <a rel="nofollow" class="external text" href="http://www.fdic.gov/regulations/laws/rules/6500-3500.html#6500rni109">FDIC page on Riegle-neal Interstate Banking and Branching Efficiency Act of 1994, SEC. 109.(c)(2)(D)</a> </li> <li id="cite_note-12USC1835a-45"><a href="#cite_ref-12USC1835a_45-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/12/1835a.html#c_2_D">"Prohibition against deposit production offices"</a>. US Code, Title 12, Chapter 16, § 1835a(c)(2)(D). Legal Information Institute (LII), Cornell University Law School. Retrieved 2009-04-16.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=US+Code%2C+Title+12%2C+Chapter+16%2C+%C2%A7+1835a%28c%29%282%29%28D%29&rft.atitle=Prohibition+against+deposit+production+offices&rft_id=https%3A%2F%2Fwww.law.cornell.edu%2Fuscode%2F12%2F1835a.html%23c_2_D&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-1993annoucement-46"><a href="#cite_ref-1993annoucement_46-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation pressrelease cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20110608074710/http://clinton6.nara.gov/1993/07/1993-07-15-presidents-remarks-on-community-development.html">"President's Remarks on Community Development"</a>. Clinton Presidential Materials Project, White House Virtual Library (Press release). National Archives and Records Administration. 1993-07-15. Archived from <a rel="nofollow" class="external text" href="https://clinton6.nara.gov/1993/07/1993-07-15-presidents-remarks-on-community-development.html">the original</a> on 2011-06-08. 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Archived from <a rel="nofollow" class="external text" href="http://www.prospect.org/cs/articles?article=did_liberals_cause_the_subprime_crisis">the original</a> on June 20, 2012. Retrieved 2008-10-14.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+American+Prospect&rft.atitle=Did+Liberals+Cause+the+Sub-Prime+Crisis%3F&rft.date=2008-04-07&rft.aulast=Gordon&rft.aufirst=Robert&rft_id=http%3A%2F%2Fwww.prospect.org%2Fcs%2Farticles%3Farticle%3Ddid_liberals_cause_the_subprime_crisis&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-121"><a href="#cite_ref-121">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSeidman2009" class="citation web cs1">Seidman, Ellen (June 26, 2009). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100612172242/http://www.prospect.org/cs/articles?article=dont_blame_the_community_reinvestment_act">"Don't Blame the Community Reinvestment Act"</a>. The American Prospect. prospect.org. Archived from <a rel="nofollow" class="external text" href="http://www.prospect.org/cs/articles?article=dont_blame_the_community_reinvestment_act">the original</a> on June 12, 2010. Retrieved 2009-08-12.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+American+Prospect&rft.atitle=Don%27t+Blame+the+Community+Reinvestment+Act&rft.date=2009-06-26&rft.aulast=Seidman&rft.aufirst=Ellen&rft_id=http%3A%2F%2Fwww.prospect.org%2Fcs%2Farticles%3Farticle%3Ddont_blame_the_community_reinvestment_act&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-122"><a href="#cite_ref-122">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGross2008" class="citation web cs1">Gross, Daniel (October 7, 2008). <a rel="nofollow" class="external text" href="http://www.slate.com/id/2201641/pagenum/all/%23page_start">"Subprime Suspects"</a>. Slate.com.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Subprime+Suspects&rft.pub=Slate.com&rft.date=2008-10-07&rft.aulast=Gross&rft.aufirst=Daniel&rft_id=http%3A%2F%2Fwww.slate.com%2Fid%2F2201641%2Fpagenum%2Fall%2F%2523page_start&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-123"><a href="#cite_ref-123">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaker2013" class="citation news cs1">Baker, Dean (6 Jan 2013). <a rel="nofollow" class="external text" href="http://cepr.net/blogs/beat-the-press/the-blame-the-community-reinvestment-act-industry">"The Blame the Community Reinvestment Act Industry"</a>. Retrieved 2018-02-15.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=The+Blame+the+Community+Reinvestment+Act+Industry&rft.date=2013-01-06&rft.aulast=Baker&rft.aufirst=Dean&rft_id=http%3A%2F%2Fcepr.net%2Fblogs%2Fbeat-the-press%2Fthe-blame-the-community-reinvestment-act-industry&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-124"><a href="#cite_ref-124">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPressman2008" class="citation web cs1">Pressman, Aaron (September 29, 2008). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080930205133/http://www.businessweek.com/investing/insights/blog/archives/2008/09/community_reinv.html">"Community Reinvestment Act had nothing to do with subprime crisis"</a>. BusinessWeek. www.businessweek.com. Archived from <a rel="nofollow" class="external text" href="http://www.businessweek.com/investing/insights/blog/archives/2008/09/community_reinv.html">the original</a> on September 30, 2008. Retrieved 2008-10-14.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=BusinessWeek&rft.atitle=Community+Reinvestment+Act+had+nothing+to+do+with+subprime+crisis&rft.date=2008-09-29&rft.aulast=Pressman&rft.aufirst=Aaron&rft_id=http%3A%2F%2Fwww.businessweek.com%2Finvesting%2Finsights%2Fblog%2Farchives%2F2008%2F09%2Fcommunity_reinv.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-125"><a href="#cite_ref-125">^</a> <a rel="nofollow" class="external text" href="http://www.brookings.edu/experts/b/barrm.aspx">Description of Michael S. Barr, Nonresident Senior Fellow</a>, <a href="/wiki/Brookings_Institution" title="Brookings Institution">Brookings Institution</a> </li> <li id="cite_note-Barr-126"><a href="#cite_ref-Barr_126-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBarr2008" class="citation web cs1"><a href="/wiki/Michael_Barr_(Treasury_official)" class="mw-redirect" title="Michael Barr (Treasury official)">Barr, Michael S.</a> (February 13, 2008). <a rel="nofollow" class="external text" href="https://www.gpo.gov/fdsys/granule/CHRG-110hhrg41181/CHRG-110hhrg41181/content-detail.html">"Prepared Testimony, Serial 110-90, Hearing on The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain"</a>. <a href="/wiki/United_States_House_Committee_on_Financial_Services" title="United States House Committee on Financial Services">United States House Committee on Financial Services</a>. GPO. pp. 37–39 in PDF; see also pp. 77–87.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=United+States+House+Committee+on+Financial+Services&rft.atitle=Prepared+Testimony%2C+Serial+110-90%2C+Hearing+on+The+Community+Reinvestment+Act%3A+Thirty+Years+of+Accomplishments%2C+but+Challenges+Remain&rft.pages=pp.+37-39+in+PDF%3B+see+also+pp.+77-87&rft.date=2008-02-13&rft.aulast=Barr&rft.aufirst=Michael+S.&rft_id=http%3A%2F%2Fwww.gpo.gov%2Ffdsys%2Fgranule%2FCHRG-110hhrg41181%2FCHRG-110hhrg41181%2Fcontent-detail.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-PintoToxic-127"><a href="#cite_ref-PintoToxic_127-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPinto2009" class="citation web cs1">Pinto, Edward (August 2009). <a rel="nofollow" class="external text" href="http://www.city-journal.org/2009/19_4_snd-cra.html">"Yes, the CRA is Toxic"</a>. City Journal.org. The Manhattan Institute.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=City+Journal.org&rft.atitle=Yes%2C+the+CRA+is+Toxic&rft.date=2009-08&rft.aulast=Pinto&rft.aufirst=Edward&rft_id=http%3A%2F%2Fwww.city-journal.org%2F2009%2F19_4_snd-cra.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-128"><a href="#cite_ref-128">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFried2012" class="citation book cs1">Fried, Joseph (2012). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=7fyWh8xYCyMC&pg=PA149">"Chapter 8"</a>. <a rel="nofollow" class="external text" href="https://books.google.com/books?id=7fyWh8xYCyMC">Who Really Drove the Economy Into the Ditch?</a>. New York: Algora Publishing. pp. 149–150. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780875869421" title="Special:BookSources/9780875869421"><bdi>9780875869421</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+8&rft.btitle=Who+Really+Drove+the+Economy+Into+the+Ditch%3F&rft.place=New+York&rft.pages=149-150&rft.pub=Algora+Publishing&rft.date=2012&rft.isbn=9780875869421&rft.aulast=Fried&rft.aufirst=Joseph&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D7fyWh8xYCyMC%26pg%3DPA149&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-defchange1-129"><a href="#cite_ref-defchange1_129-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.fdic.gov/news/news/press/2001/pr0901a.html">"Expanded Guidance for Subprime Lending Programs"</a>. Federal Deposit Insurance Corporation. FDIC.gov. January 31, 2001. Retrieved December 18, 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Federal+Deposit+Insurance+Corporation&rft.atitle=Expanded+Guidance+for+Subprime+Lending+Programs&rft.date=2001-01-31&rft_id=http%3A%2F%2Fwww.fdic.gov%2Fnews%2Fnews%2Fpress%2F2001%2Fpr0901a.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-defchange2-130"><a href="#cite_ref-defchange2_130-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.fdic.gov/about/comein/background.html">"Advisory Committee on Economic Inclusion (ComE-IN) Background Definitions"</a>. Federal Deposit Insurance Corporation. FDIC.gov. July 13, 2007. Retrieved December 18, 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Federal+Deposit+Insurance+Corporation&rft.atitle=Advisory+Committee+on+Economic+Inclusion+%28ComE-IN%29+Background+Definitions&rft.date=2007-07-13&rft_id=http%3A%2F%2Fwww.fdic.gov%2Fabout%2Fcomein%2Fbackground.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>Additionally, this guidance will generally not apply to: ... . and community development loans as defined in the CRA regulations that may have some higher risk characteristics, but are otherwise mitigated by guarantees from government programs, private credit enhancements, or other appropriate risk mitigation techniques.</blockquote> </li> <li id="cite_note-131"><a href="#cite_ref-131">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKrugman2011" class="citation news cs1"><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman, Paul</a> (May 21, 2011). <a rel="nofollow" class="external text" href="https://krugman.blogs.nytimes.com/2011/05/21/origins-of-the-crisis-fake-and-real">"Origins of the Crisis, Fake and Real"</a>. The New York Times. Retrieved 2013-12-23.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Origins+of+the+Crisis%2C+Fake+and+Real&rft.date=2011-05-21&rft.aulast=Krugman&rft.aufirst=Paul&rft_id=https%3A%2F%2Fkrugman.blogs.nytimes.com%2F2011%2F05%2F21%2Forigins-of-the-crisis-fake-and-real&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-132"><a href="#cite_ref-132">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.barrons.com/articles/SB50001424053111904443004576349282596431872">"Mortgage Debate: Why Labeling Matters"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Mortgage+Debate%3A+Why+Labeling+Matters&rft_id=http%3A%2F%2Fwww.barrons.com%2Farticles%2FSB50001424053111904443004576349282596431872&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-133"><a href="#cite_ref-133">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFried2012" class="citation book cs1">Fried, Joseph (2012). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=7fyWh8xYCyMC&pg=PA150">"Chapter 8"</a>. <a rel="nofollow" class="external text" href="https://books.google.com/books?id=7fyWh8xYCyMC">Who Really Drove the Economy Into the Ditch?</a>. New York: Algora Publishing. p. 150. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780875869421" title="Special:BookSources/9780875869421"><bdi>9780875869421</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+8&rft.btitle=Who+Really+Drove+the+Economy+Into+the+Ditch%3F&rft.place=New+York&rft.pages=150&rft.pub=Algora+Publishing&rft.date=2012&rft.isbn=9780875869421&rft.aulast=Fried&rft.aufirst=Joseph&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D7fyWh8xYCyMC%26pg%3DPA150&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-134"><a href="#cite_ref-134">^</a> <a rel="nofollow" class="external text" href="https://www.nber.org/digest/may13/w18609.html">NBER-Agarwal, Benmelich, Bergman, Seru-"Did the Community Reinvestment Act Lead to Risky Lending?"</a>, nber.org; accessed September 22, 2014. </li> <li id="cite_note-135"><a href="#cite_ref-135">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.gpo.gov/fdsys/pkg/GPO-FCIC/content-detail.html">"The Financial Crisis Inquiry Report"</a>. National Commission on the Causes of the Financial and Economic Crisis in the United States. GPO. February 25, 2011. Retrieved November 23, 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=National+Commission+on+the+Causes+of+the+Financial+and+Economic+Crisis+in+the+United+States&rft.atitle=The+Financial+Crisis+Inquiry+Report&rft.date=2011-02-25&rft_id=http%3A%2F%2Fwww.gpo.gov%2Ffdsys%2Fpkg%2FGPO-FCIC%2Fcontent-detail.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-136"><a href="#cite_ref-136">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBernanke2008" class="citation web cs1"><a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Bernanke, Ben S.</a> (December 2, 2008). <a rel="nofollow" class="external text" href="http://www.menendez.senate.gov/newsroom/press/fed-chairman-bernanke-confirms-to-menendez-that-community-reinvestment-act-is-not-to-blame-for-foreclosure-crisis">"Fed Chairman Bernanke Confirms To Menendez That Community Reinvestment Act Is Not To Blame For Foreclosure Crisis"</a>. Retrieved 25 November 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Fed+Chairman+Bernanke+Confirms+To+Menendez+That+Community+Reinvestment+Act+Is+Not+To+Blame+For+Foreclosure+Crisis&rft.date=2008-12-02&rft.aulast=Bernanke&rft.aufirst=Ben+S.&rft_id=http%3A%2F%2Fwww.menendez.senate.gov%2Fnewsroom%2Fpress%2Ffed-chairman-bernanke-confirms-to-menendez-that-community-reinvestment-act-is-not-to-blame-for-foreclosure-crisis&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>Our own experience with CRA over more than 30 years and recent analysis of available data, including data on subprime loan performance, runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.</blockquote> </li> <li id="cite_note-Yellen3-31-08-137">^ <a href="#cite_ref-Yellen3-31-08_137-0">a</a> <a href="#cite_ref-Yellen3-31-08_137-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFYellen2008" class="citation web cs1"><a href="/wiki/Janet_Yellen" title="Janet Yellen">Yellen, Janet L.</a> (March 31, 2008). <a rel="nofollow" class="external text" href="http://www.frbsf.org/our-district/press/presidents-speeches/yellen-speeches/2008/march/yellen-opening-remarks-national-interagency-community-reinvestment-conference-2008">"Opening Remarks, 2008 National Interagency Community Reinvestment Conference"</a>. Federal Reserve Bank of San Francisco. Retrieved October 28, 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Opening+Remarks%2C+2008+National+Interagency+Community+Reinvestment+Conference&rft.pub=Federal+Reserve+Bank+of+San+Francisco&rft.date=2008-03-31&rft.aulast=Yellen&rft.aufirst=Janet+L.&rft_id=http%3A%2F%2Fwww.frbsf.org%2Four-district%2Fpress%2Fpresidents-speeches%2Fyellen-speeches%2F2008%2Fmarch%2Fyellen-opening-remarks-national-interagency-community-reinvestment-conference-2008&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>There has been a tendency to conflate the current problems in the subprime market with CRA-motivated lending, or with lending to low-income families in general. I believe it is very important to make a distinction between the two. Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans, and studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households.</blockquote> </li> <li id="cite_note-bair1208-138"><a href="#cite_ref-bair1208_138-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBair2008" class="citation web cs1"><a href="/wiki/Sheila_Bair" title="Sheila Bair">Bair, Sheila</a> (December 17, 2008). <a rel="nofollow" class="external text" href="http://www.fdic.gov/news/news/speeches/archives/2008/chairman/spdec1708.html">"Prepared Remarks: Did Low-income Homeownership Go Too Far?, FDIC Chairman"</a>. Conference before the New America Foundation. FDIC.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Conference+before+the+New+America+Foundation&rft.atitle=Prepared+Remarks%3A+Did+Low-income+Homeownership+Go+Too+Far%3F%2C+FDIC+Chairman&rft.date=2008-12-17&rft.aulast=Bair&rft.aufirst=Sheila&rft_id=http%3A%2F%2Fwww.fdic.gov%2Fnews%2Fnews%2Fspeeches%2Farchives%2F2008%2Fchairman%2Fspdec1708.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-139"><a href="#cite_ref-139">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDugan2008" class="citation web cs1"><a href="/wiki/John_C._Dugan" title="John C. Dugan">Dugan, John C.</a> (November 19, 2008). <a rel="nofollow" class="external text" href="https://www.occ.gov/news-issuances/news-releases/2008/nr-occ-2008-136.html">"Comptroller Dugan Says CRA Not Responsible for Subprime Lending Abuses"</a>. Remarks Before the Enterprise Annual Network Conference. Office of the Comptroller of the Currency.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Remarks+Before+the+Enterprise+Annual+Network+Conference&rft.atitle=Comptroller+Dugan+Says+CRA+Not+Responsible+for+Subprime+Lending+Abuses&rft.date=2008-11-19&rft.aulast=Dugan&rft.aufirst=John+C.&rft_id=http%3A%2F%2Fwww.occ.gov%2Fnews-issuances%2Fnews-releases%2F2008%2Fnr-occ-2008-136.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-140"><a href="#cite_ref-140">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKroszner2008" class="citation web cs1"><a href="/wiki/Randall_Kroszner" title="Randall Kroszner">Kroszner, Randall</a> (December 3, 2008). <a rel="nofollow" class="external text" href="https://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm">"The Community Reinvestment Act and the Recent Mortgage Crisis"</a>. Board of Governors of the Federal Reserve System. FRB.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Board+of+Governors+of+the+Federal+Reserve+System&rft.atitle=The+Community+Reinvestment+Act+and+the+Recent+Mortgage+Crisis&rft.date=2008-12-03&rft.aulast=Kroszner&rft.aufirst=Randall&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Fspeech%2Fkroszner20081203a.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-HDMA2006-141"><a href="#cite_ref-HDMA2006_141-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAveryBrevoortCanner2007" class="citation journal cs1">Avery, Robert B.; Brevoort, Kenneth P.; Canner, Glenn B. (2007). <a rel="nofollow" class="external text" href="https://www.federalreserve.gov/pubs/bulletin/2007/articles/hmda/default.htm#nl4">"The 2006 HMDA Data"</a>. Federal Reserve Bulletin. 93 (12). p. A89, Table 9. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.17016%2Fbulletin.2007.93-12">10.17016/bulletin.2007.93-12</a>. Retrieved February 5, 2009.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Federal+Reserve+Bulletin&rft.atitle=The+2006+HMDA+Data&rft.volume=93&rft.issue=12&rft.pages=p.+A89%2C+Table+9.&rft.date=2007&rft_id=info%3Adoi%2F10.17016%2Fbulletin.2007.93-12&rft.aulast=Avery&rft.aufirst=Robert+B.&rft.au=Brevoort%2C+Kenneth+P.&rft.au=Canner%2C+Glenn+B.&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fpubs%2Fbulletin%2F2007%2Farticles%2Fhmda%2Fdefault.htm%23nl4&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"><blockquote>According to the 2006 HMDA data, 19 percent of the conventional first lien mortgage loans originated by depository institutions were higher-priced, compared to 23 percent by bank subsidiaries, 38 percent by other bank affiliates, and more than 40 percent by independent mortgage companies.</blockquote> </li> <li id="cite_note-CRA25th-142"><a href="#cite_ref-CRA25th_142-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="http://www.jchs.harvard.edu/research/publications/25th-anniversary-community-reinvestment-act-access-capital-evolving-financial">"The 25th Anniversary of the Community Reinvestment Act: Access to Capital in an Evolving Financial Services System"</a>. Joint Center for Housing Studies. Cambridge, MA: Harvard University. pp. iv–v (PDF). March 1, 2002. Retrieved November 5, 2008.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Joint+Center+for+Housing+Studies&rft.atitle=The+25th+Anniversary+of+the+Community+Reinvestment+Act%3A+Access+to+Capital+in+an+Evolving+Financial+Services+System&rft.pages=pp.+iv-v+%28PDF%29&rft.date=2002-03-01&rft_id=http%3A%2F%2Fwww.jchs.harvard.edu%2Fresearch%2Fpublications%2F25th-anniversary-community-reinvestment-act-access-capital-evolving-financial&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-Raines2008-143"><a href="#cite_ref-Raines2008_143-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRaines2012" class="citation web cs1"><a href="/wiki/Franklin_Raines" title="Franklin Raines">Raines, Franklin D.</a> (December 9, 2012). <a rel="nofollow" class="external text" href="https://www.gpo.gov/fdsys/granule/CHRG-110hhrg50808/CHRG-110hhrg50808/content-detail.html">"Prepared Testimony, Serial No. 110-180, Hearing on the Role of Fannie Mae and Freddie Mac in the Financial Crisis [of 2008]"</a>. <a href="/wiki/United_States_House_Committee_on_Oversight_and_Government_Reform" class="mw-redirect" title="United States House Committee on Oversight and Government Reform">United States House Committee on Oversight and Government Reform</a>. GPO. p. 57 in PDF; see also pp. 102–103.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=United+States+House+Committee+on+Oversight+and+Government+Reform&rft.atitle=Prepared+Testimony%2C+Serial+No.+110-180%2C+Hearing+on+the+Role+of+Fannie+Mae+and+Freddie+Mac+in+the+Financial+Crisis+%5Bof+2008%5D&rft.pages=p.+57+in+PDF%3B+see+also+pp.+102-103&rft.date=2012-12-09&rft.aulast=Raines&rft.aufirst=Franklin+D.&rft_id=http%3A%2F%2Fwww.gpo.gov%2Ffdsys%2Fgranule%2FCHRG-110hhrg50808%2FCHRG-110hhrg50808%2Fcontent-detail.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> <li id="cite_note-144"><a href="#cite_ref-144">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.federalreserve.gov/econresdata/notes/feds-notes/2015/assessing-the-community-reinvestment-acts-role-in-the-financial-crisis-20150526.html">"FRB: FEDS Notes: Assessing the Community Reinvestment Act's Role in the Financial Crisis"</a>. www.federalreserve.gov. Retrieved 2018-09-24.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.federalreserve.gov&rft.atitle=FRB%3A+FEDS+Notes%3A+Assessing+the+Community+Reinvestment+Act%27s+Role+in+the+Financial+Crisis&rft_id=https%3A%2F%2Fwww.federalreserve.gov%2Feconresdata%2Fnotes%2Ffeds-notes%2F2015%2Fassessing-the-community-reinvestment-acts-role-in-the-financial-crisis-20150526.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommunity+Reinvestment+Act" class="Z3988"> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2>[<a href="/w/index.php?title=Community_Reinvestment_Act&action=edit&section=24" title="Edit section: External links">edit</a>]</div> <ul><li><a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/COMPS-258/uslm/COMPS-258.xml">Community Reinvestment Act of 1977</a> as amended (<a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/COMPS-258/pdf/COMPS-258.pdf">PDF</a>/<a rel="nofollow" class="external text" href="https://www.govinfo.gov/app/details/COMPS-258/">details</a>) in the <a href="/wiki/United_States_Government_Publishing_Office" title="United States Government Publishing Office">GPO</a> <a rel="nofollow" class="external text" href="https://www.govinfo.gov/help/comps">Statute Compilations collection</a></li> <li><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/title/housing-community-development-act-1977-community-reinvestment-act-1977-1027">Public Law 95-128, 95th Congress, H.R. 6655: Housing and Community Development Act of 1977 [Community Reinvestment Act]</a></li> <li><a rel="nofollow" class="external text" href="https://www.frbsf.org/community-development/publications/community-development-investment-review/2009/february/future-cra-community-reinvestment-act/">Revisiting the CRA: Perspectives & Policy Discussion on the Community Reinvestment Act</a>, a joint publication by the Federal Reserve Banks of Boston and San Francisco, Federal Reserve System. Researchers, regulators, bankers, nonprofit practitioners, and community advocates contributing. Published: February 2009.</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090430023055/http://financialservices.house.gov/hearing110/ht021308.shtml">"The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain"</a>, February 13, 2008. This hearing before the full House Committee on Financial Services examined the impact of CRA on the provision of loans, investments and services to under-served communities. In addition to exploring CRA's success, the hearing hoped to examine challenges that prevent the law from being more effective for the future. | <a rel="nofollow" class="external text" href="http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_house_hearings&docid=f:41181.pdf">Printed Hearing: 110-90</a> (PDF).</li> <li>Prepared Testimony, Member Statements & Transcripts <ul><li><a rel="nofollow" class="external text" href="https://www.federalreserve.gov/newsevents/testimony/braunstein20080213a.htm">Prepared Statement by Sandra F. Braunstein</a>, Director of the Division of Consumer and Community Affairs, Federal Reserve Board (FRB)</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080507072313/http://www.occ.treas.gov/ftp/release/2008-15.htm">Prepared Statement by Ann F. Jaedicke</a>,[<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">dead link</a>‍] Deputy Comptroller for Compliance Policy, Office of the Comptroller of the Currency (OCC)</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090117211039/http://www.fdic.gov/news/news/speeches/archives/2008/chairman/spfeb1308.html">Prepared Statement by Sandra L. Thompson</a>,[<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">dead link</a>‍] Director of the Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation (FDIC)</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090425063437/http://www.ots.treas.gov/index.cfm?p=Testimony&ContentType_id=c672eda0-239a-416b-8486-1b6fb2b73ba8&MonthDisplay=2&YearDisplay=2008">Prepared Statement by Montrice Godard Yakimov</a>,[<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">dead link</a>‍] Managing Director of Compliance and Consumer Protection, Office of Thrift Supervision (OTS)</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090502045115/http://financialservices.house.gov/hearing110/seidman021308.pdf">Prepared Statement by Ellen Seidman</a> (PDF), Director of the Financial Services and Education Project, New America Foundation</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090502044929/http://financialservices.house.gov/hearing110/white021308.pdf">Prepared Statement of Lawrence J. White</a> (PDF), Professor of Economics, New York University – Stern School of Business</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20110203121215/http://financialservices.house.gov/hearing110/barr021308.pdf">Prepared Statement by Michael S. Barr</a> (PDF), Professor, University of Michigan Law School</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090502044923/http://financialservices.house.gov/hearing110/marchant021308.pdf">Statement by Congressman Marchant</a> (PDF)</li></ul></li></ul> <dl><dd></dd></dl> <ul><li><a rel="nofollow" class="external text" href="https://www.ffiec.gov/cra/craproducts.htm">Federal Financial Institutions Examination Council</a> (FFIEC), contains detailed information on the CRA and its implementing regulations, including CRA National Aggregate Reports for the years 1996 to 2009</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20000815202946/http://www.federalreserve.gov/boarddocs/surveys/craloansurvey/">Survey of the Performance and Profitability of CRA-Related Lending</a>,[<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">dead link</a>‍] September 19, 2002. Section 713 of the Gramm-Leach-Bliley Act of 1999 (Public Law 106-102) directs the Board of Governors of the Federal Reserve System to study and report to the Congress on the default rates, delinquency rates, and profitability of lending activities undertaken in conformance with the Community Reinvestment Act of 1977 (CRA). The Board asked the 500 largest retail banking organizations to voluntarily complete a comprehensive survey focusing on their CRA-related lending activities and prepared a report summarizing survey responses. The Board was directed to make the report and supporting data available to the public (linked above).</li> <li><a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/FR-2004-08-18/pdf/04-18863.pdf">Overview of the Community Reinvestment Act from the Federal Register</a>.</li> <li><a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/PLAW-104publ29/pdf/PLAW-104publ29.pdf">Truth in Lending Acts Amendments of 1995</a>.</li> <li>George Benston, <a rel="nofollow" class="external text" href="https://www.cato.org/policy-analysis/community-reinvestment-act-looking-discrimination-isnt-there#">The Community Reinvestment Act: Looking for Discrimination That Isn't There</a>, <a href="/wiki/Cato_Institute" title="Cato Institute">Cato Institute</a> Policy Analysis No. 354, October 6, 1999.</li> <li>Seidman, E., <a rel="nofollow" class="external text" href="https://www.thefreelibrary.com/CRA+in+the+21st+Century.-a063825220">"CRA in the 21st century"</a>, originally published in Mortgage banking, Washington, D.C., October 1, 1999.</li> <li>Steven A. Holmes, <a rel="nofollow" class="external text" href="https://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html">Fannie Mae Eases Credit To Aid Mortgage Lending</a>, <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>, September 30, 1999.</li> <li>Luci Ellis, <a rel="nofollow" class="external text" href="https://www.bis.org/publ/work259.htm">The housing meltdown: Why did it happen in the United States?</a> Working paper No. 259 for the <a href="/wiki/Bank_for_International_Settlements" title="Bank for International Settlements">Bank for International Settlements</a>, September 2008</li> <li>Traiger & Hinckley, LLP., <a rel="nofollow" class="external text" href="http://www.traigerlaw.com/publications/traiger_hinckley_llp_cra_foreclosure_study_1-7-08.pdf">The Community Reinvestment Act: A Welcome Anomaly in the Foreclosure Crisis</a>, January 7, 2008</li> <li><a rel="nofollow" class="external text" href="http://www.dollarsandsense.org/archives/1997/1197campen.html">The Community Reinvestment Act</a> by economist Jim Campen, <a href="/wiki/Dollars_%26_Sense" title="Dollars & Sense">Dollars & Sense</a>, Nov/Dec 1997.</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20120627032943/http://www.newamerica.net/blog/asset-building/2008/no-larry-cra-didn-t-cause-sub-prime-mess-3210">CRA Didn’t Cause the Sub-Prime Mess</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20081003075433/http://www.newamerica.net/blog/asset-building/2008/its-still-not-cra-7222">It's Still Not CRA</a>, newamerica.net; accessed September 23, 2014.</li> <li><a rel="nofollow" class="external text" href="https://www.wsj.com/articles/BL-REB-2405">"Fed's Kroszner: Don't Blame CRA"</a>, wsj.com; accessed September 23, 2014.</li> <li><a rel="nofollow" class="external text" href="https://www.democracynow.org/2010/8/12/gaming_the_system_study_details_how">"Study Details How Big Banks Are Avoiding Lending Obligations Under Community Reinvestment Act"</a>, video report by <a href="/wiki/Democracy_Now!" title="Democracy Now!">Democracy Now!</a>, August 12, 2010; accessed September 23, 2014.</li> <li><a rel="nofollow" class="external text" href="https://sgp.fas.org/crs/misc/R43661.pdf">"The Effectiveness of the Community Reinvestment Act"</a>, fas.org; accessed September 23, 2014.</li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl 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.navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Federal_Reserve_System" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" 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talk:Federal Reserve System"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Federal_Reserve_System" title="Special:EditPage/Template:Federal Reserve System"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Federal_Reserve_System" style="font-size:114%;margin:0 4em"><a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve System</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chair</a></li> <li><a href="/wiki/Vice_Chair_of_the_Federal_Reserve" title="Vice Chair of the Federal Reserve">Vice Chair</a></li> <li><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Governors</a></li> <li><a href="/wiki/Federal_Reserve_Bank" title="Federal Reserve Bank">Federal Reserve Banks</a></li> <li><a href="/wiki/Federal_Open_Market_Committee" title="Federal Open Market Committee">Federal Open Market Committee</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Banknote" title="Banknote">Banknotes</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Federal_Reserve_Note" title="Federal Reserve Note">Federal Reserve Note</a></li> <li><a href="/wiki/Federal_Reserve_Bank_Note" title="Federal Reserve Bank Note">Federal Reserve Bank Note</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="8" style="width:1px;padding:0 0 0 2px"><div><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/80px-Seal_of_the_United_States_Federal_Reserve_System.svg.png" decoding="async" width="80" height="80" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/120px-Seal_of_the_United_States_Federal_Reserve_System.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/160px-Seal_of_the_United_States_Federal_Reserve_System.svg.png 2x" data-file-width="249" data-file-height="249" /></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Reports</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Beige_Book" title="Beige Book">Beige Book</a></li> <li><a href="/wiki/Federal_Reserve_Statistical_Release" title="Federal Reserve Statistical Release">Federal Reserve Statistical Release</a></li> <li><a href="/wiki/Monetary_Policy_Report_to_the_Congress" title="Monetary Policy Report to the Congress">Monetary Policy Report to the Congress</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal funds</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Discount_window" title="Discount window">Discount window</a> <ul><li><a href="/wiki/Bank_rate" title="Bank rate">Bank rate</a></li></ul></li> <li><a href="/wiki/Federal_funds" title="Federal funds">Federal funds</a></li> <li><a href="/wiki/Federal_funds_rate" title="Federal funds rate">Federal funds rate</a> <ul><li><a href="/wiki/Overnight_rate" title="Overnight rate">Overnight rate</a></li></ul></li> <li><a href="/wiki/Primary_dealer" title="Primary dealer">Primary dealer</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_Federal_Reserve_System" title="History of the Federal Reserve System">History</a> (<a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">Antecedents</a>)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aldrich%E2%80%93Vreeland_Act" title="Aldrich–Vreeland Act">Aldrich–Vreeland Act</a> (1908)</li> <li><a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> (1909–1912)</li> <li><a href="/wiki/Federal_Reserve_Act" title="Federal Reserve Act">Federal Reserve Act</a> (1913)</li> <li><a href="/wiki/Pittman_Act" title="Pittman Act">Pittman Act</a> (1918)</li> <li><a href="/wiki/Edge_Act" title="Edge Act">Edge Act</a> (1919)</li> <li><a href="/wiki/Phelan_Act_of_1920" title="Phelan Act of 1920">Phelan Act</a> (1920)</li> <li><a href="/wiki/Regulation_D_(FRB)" title="Regulation D (FRB)">Regulation D</a> (c. 1930)</li> <li><a href="/wiki/Emergency_Banking_Act" class="mw-redirect" title="Emergency Banking Act">Emergency Banking Act</a> (1933)</li> <li><a href="/wiki/Regulation_Q" title="Regulation Q">Regulation Q</a> (1933)</li> <li><a href="/wiki/1933_Banking_Act" title="1933 Banking Act">Glass–Steagall Act</a> (1933)</li> <li><a href="/wiki/Gold_Reserve_Act" title="Gold Reserve Act">Gold Reserve Act</a> (1934)</li> <li><a href="/wiki/Banking_Act_of_1935" title="Banking Act of 1935">Banking Act of 1935</a></li> <li><a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods system</a> (1944–1971)</li> <li><a href="/wiki/Employment_Act_of_1946" title="Employment Act of 1946">Employment Act of 1946</a></li> <li><a href="/wiki/History_of_the_Federal_Reserve_System" title="History of the Federal Reserve System">U.S. Treasury Department Accord</a> (1951)</li> <li><a href="/wiki/Bank_Holding_Company_Act" title="Bank Holding Company Act">Bank Holding Company Act</a> (1956)</li> <li><a href="/wiki/History_of_Federal_Open_Market_Committee_actions" title="History of Federal Open Market Committee actions">FOMC actions</a> (1961–present)</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending Act</a> (1968)</li> <li><a href="/wiki/Nixon_shock" title="Nixon shock">Nixon shock</a> (1971)</li> <li><a href="/wiki/Smithsonian_Agreement" title="Smithsonian Agreement">Smithsonian Agreement</a> (1971)</li> <li><a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity Act</a> (1974)</li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a> (1975)</li> <li><a class="mw-selflink selflink">Community Reinvestment Act</a> (1977)</li> <li><a href="/wiki/Federal_Reserve_Reform_Act_of_1977" title="Federal Reserve Reform Act of 1977">Federal Reserve Reform Act</a> (1977)</li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a> (1978)</li> <li><a href="/wiki/Humphrey%E2%80%93Hawkins_Full_Employment_Act" title="Humphrey–Hawkins Full Employment Act">Humphrey–Hawkins Full Employment Act</a> (1978)</li> <li><a href="/wiki/International_Banking_Act_of_1978" title="International Banking Act of 1978">International Banking Act</a> (1978)</li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">DIDMC Act</a> (1980)</li> <li><a href="/wiki/Board_of_Governors,_FRS_v._Investment_Co._Institute" title="Board of Governors, FRS v. Investment Co. Institute">Federal Reserve v. Investment Co. Institute</a> (1981)</li> <li><a href="/wiki/Bank_of_New_England" title="Bank of New England">Northeast Bancorp v. Federal Reserve</a> (1985)</li> <li><a href="/wiki/Greenspan_put" title="Greenspan put">Greenspan put</a> (1987)</li> <li><a href="/wiki/Expedited_Funds_Availability_Act" title="Expedited Funds Availability Act">Expedited Funds Availability Act</a> (1987)</li> <li><a href="/wiki/Financial_Institutions_Reform,_Recovery,_and_Enforcement_Act_of_1989" title="Financial Institutions Reform, Recovery, and Enforcement Act of 1989">FIRRE Act</a> (1989)</li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">FDIC Improvement Act</a> (1991)</li> <li><a href="/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act" title="Gramm–Leach–Bliley Act">Gramm–Leach–Bliley Act</a> (1999)</li> <li><a href="/wiki/Federal_Reserve_responses_to_the_subprime_crisis" title="Federal Reserve responses to the subprime crisis">Subprime mortgage crisis responses</a> (2007–2010)</li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act</a> (2008)</li> <li><a href="/wiki/Unfair_or_Deceptive_Acts_or_Practices" title="Unfair or Deceptive Acts or Practices">Unfair or Deceptive Acts or Practices</a> (2008)</li> <li><a href="/wiki/Commercial_Paper_Funding_Facility" title="Commercial Paper Funding Facility">Commercial Paper Funding Facility</a> (2008–2010)</li> <li><a href="/wiki/Primary_Dealer_Credit_Facility" title="Primary Dealer Credit Facility">Primary Dealer Credit Facility</a> (2008–2010)</li> <li><a href="/wiki/Bloomberg_L.P._v._Board_of_Governors_of_the_Federal_Reserve_System" title="Bloomberg L.P. v. Board of Governors of the Federal Reserve System">Bloomberg v. Federal Reserve</a> (2009)</li> <li><a href="/wiki/2009_Supervisory_Capital_Assessment_Program" title="2009 Supervisory Capital Assessment Program">2009 Supervisory Capital Assessment Program</a></li> <li><a href="/wiki/Term_Asset-Backed_Securities_Loan_Facility" title="Term Asset-Backed Securities Loan Facility">Term Asset-Backed Securities Loan Facility</a> (2009–2010)</li> <li><a href="/wiki/Public%E2%80%93Private_Investment_Program_for_Legacy_Assets" title="Public–Private Investment Program for Legacy Assets">Public–Private Investment Program for Legacy Assets</a> (2009–)</li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank Act</a> (2010; <a href="/wiki/Durbin_amendment" title="Durbin amendment">Durbin amendment</a>)</li> <li><a href="/wiki/Commercial_Paper_Funding_Facility" title="Commercial Paper Funding Facility">Commercial Paper Funding Facility</a> (2020–2021)</li> <li><a href="/wiki/Corner_Post,_Inc._v._Board_of_Governors_of_the_Federal_Reserve_System" title="Corner Post, Inc. v. Board of Governors of the Federal Reserve System">Corner Post v. Federal Reserve</a> (2024)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chairs</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Charles_Sumner_Hamlin" title="Charles Sumner Hamlin">Charles S. Hamlin</a> (1914–1916)</li> <li><a href="/wiki/William_P._G._Harding" title="William P. G. Harding">William P. G. Harding</a> (1916–1922)</li> <li><a href="/wiki/Daniel_Richard_Crissinger" title="Daniel Richard Crissinger">Daniel R. Crissinger</a> (1923–1927)</li> <li><a href="/wiki/Roy_A._Young" title="Roy A. Young">Roy A. Young</a> (1927–1930)</li> <li><a href="/wiki/Eugene_Meyer_(financier)" title="Eugene Meyer (financier)">Eugene Meyer</a> (1930–1933)</li> <li><a href="/wiki/Eugene_Robert_Black" title="Eugene Robert Black">Eugene R. Black</a> (1933–1934)</li> <li><a href="/wiki/Marriner_S._Eccles" title="Marriner S. Eccles">Marriner S. Eccles</a> (1934–1948)</li> <li><a href="/wiki/Thomas_B._McCabe" title="Thomas B. McCabe">Thomas B. McCabe</a> (1948–1951)</li> <li><a href="/wiki/William_McChesney_Martin" title="William McChesney Martin">William M. Martin</a> (1951–1970)</li> <li><a href="/wiki/Arthur_F._Burns" title="Arthur F. Burns">Arthur F. Burns</a> (1970–1978)</li> <li><a href="/wiki/G._William_Miller" title="G. William Miller">G. William Miller</a> (1978–1979)</li> <li><a href="/wiki/Paul_Volcker" title="Paul Volcker">Paul Volcker</a> (1979–1987)</li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Alan Greenspan</a> (1987–2006)</li> <li><a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> (2006–2014)</li> <li><a href="/wiki/Janet_Yellen" title="Janet Yellen">Janet Yellen</a> (2014–2018)</li> <li><a href="/wiki/Jerome_Powell" title="Jerome Powell">Jerome Powell</a> (2018–present)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Current governors</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Jerome_Powell" title="Jerome Powell">Jerome Powell</a> (<a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chair</a>)</li> <li><a href="/wiki/Philip_Jefferson" title="Philip Jefferson">Philip Jefferson</a> (<a href="/wiki/Vice_Chair_of_the_Federal_Reserve" title="Vice Chair of the Federal Reserve">Vice Chair</a>)</li> <li><a href="/wiki/Michael_Barr_(Treasury_official)" class="mw-redirect" title="Michael Barr (Treasury official)">Michael Barr</a> (<a href="/wiki/Vice_Chair_of_the_Federal_Reserve" title="Vice Chair of the Federal Reserve">Vice Chair for Supervision</a>)</li> <li><a href="/wiki/Michelle_Bowman" title="Michelle Bowman">Michelle Bowman</a></li> <li><a href="/wiki/Christopher_Waller" title="Christopher Waller">Christopher Waller</a></li> <li><a href="/wiki/Lisa_D._Cook" title="Lisa D. Cook">Lisa D. Cook</a></li> <li><a href="/wiki/Adriana_Kugler" title="Adriana Kugler">Adriana Kugler</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Current presidents (by district)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Susan_M._Collins_(economist)" title="Susan M. Collins (economist)">Susan Collins</a> (<a href="/wiki/Federal_Reserve_Bank_of_Boston" title="Federal Reserve Bank of Boston">Boston</a>)</li> <li><a href="/wiki/John_C._Williams_(economist)" title="John C. Williams (economist)">John Williams</a> (<a href="/wiki/Federal_Reserve_Bank_of_New_York" title="Federal Reserve Bank of New York">New York</a>)</li> <li><a href="/wiki/Patrick_T._Harker" title="Patrick T. Harker">Patrick T. Harker</a> (<a href="/wiki/Federal_Reserve_Bank_of_Philadelphia" title="Federal Reserve Bank of Philadelphia">Philadelphia</a>)</li> <li><a href="/wiki/Beth_M._Hammack" title="Beth M. Hammack">Beth M. Hammack</a> (<a href="/wiki/Federal_Reserve_Bank_of_Cleveland" title="Federal Reserve Bank of Cleveland">Cleveland</a>)</li> <li><a href="/wiki/Thomas_Barkin" title="Thomas Barkin">Thomas Barkin</a> (<a href="/wiki/Federal_Reserve_Bank_of_Richmond" title="Federal Reserve Bank of Richmond">Richmond</a>)</li> <li><a href="/wiki/Raphael_Bostic" title="Raphael Bostic">Raphael Bostic</a> (<a href="/wiki/Federal_Reserve_Bank_of_Atlanta" title="Federal Reserve Bank of Atlanta">Atlanta</a>)</li> <li><a href="/wiki/Austan_Goolsbee" title="Austan Goolsbee">Austan Goolsbee</a> (<a href="/wiki/Federal_Reserve_Bank_of_Chicago" title="Federal Reserve Bank of Chicago">Chicago</a>)</li> <li><a href="/wiki/Alberto_Musalem" title="Alberto Musalem">Alberto Musalem</a> (<a href="/wiki/Federal_Reserve_Bank_of_St._Louis" title="Federal Reserve Bank of St. Louis">St. Louis</a>)</li> <li><a href="/wiki/Neel_Kashkari" title="Neel Kashkari">Neel Kashkari</a> (<a href="/wiki/Federal_Reserve_Bank_of_Minneapolis" title="Federal Reserve Bank of Minneapolis">Minneapolis</a>)</li> <li><a href="/wiki/Jeffrey_Schmid" title="Jeffrey Schmid">Jeff Schmid</a> (<a href="/wiki/Federal_Reserve_Bank_of_Kansas_City" title="Federal Reserve Bank of Kansas City">Kansas City</a>)</li> <li><a href="/wiki/Lorie_K._Logan" title="Lorie K. Logan">Lorie Logan</a> (<a href="/wiki/Federal_Reserve_Bank_of_Dallas" title="Federal Reserve Bank of Dallas">Dallas</a>)</li> <li><a href="/wiki/Mary_C._Daly" title="Mary C. Daly">Mary C. Daly</a> (<a href="/wiki/Federal_Reserve_Bank_of_San_Francisco" title="Federal Reserve Bank of San Francisco">San Francisco</a>)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Central_bank" title="Central bank">Central bank</a></li> <li><a href="/wiki/Criticism_of_the_Federal_Reserve" title="Criticism of the Federal Reserve">Criticism of the Federal Reserve</a></li> <li><a href="/wiki/Fed_model" title="Fed model">Fed model</a></li> <li><a href="/wiki/Fedspeak" title="Fedspeak">Fedspeak</a></li> <li><a href="/wiki/Fed_put" class="mw-redirect" title="Fed put">Fed put</a></li> <li><a href="/wiki/Lender_of_last_resort" title="Lender of last resort">Lender of last resort</a></li> <li><a href="/wiki/Monetary_policy_of_the_United_States" title="Monetary policy of the United States">Monetary policy of the United States</a> <ul><li><a href="/wiki/History_of_monetary_policy_in_the_United_States" title="History of monetary policy in the United States">History</a></li></ul></li> <li><a href="/wiki/Personal_consumption_expenditures_price_index" title="Personal consumption expenditures price index">Personal consumption expenditures price index</a></li> <li><a href="/wiki/Sahm_rule" title="Sahm rule">Sahm rule</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Jimmy_Carter" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Jimmy_Carter" title="Template:Jimmy Carter"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Jimmy_Carter" title="Template talk:Jimmy Carter"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Jimmy_Carter" title="Special:EditPage/Template:Jimmy Carter"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Jimmy_Carter" style="font-size:114%;margin:0 4em"><a href="/wiki/Jimmy_Carter" title="Jimmy Carter">Jimmy Carter</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><a href="/wiki/List_of_presidents_of_the_United_States" title="List of presidents of the United States">39th</a> <a href="/wiki/President_of_the_United_States" title="President of the United States">President of the United States</a> (1977–1981)</li> <li><a href="/wiki/List_of_governors_of_Georgia" title="List of governors of Georgia">76th</a> <a href="/wiki/Governor_of_Georgia" title="Governor of Georgia">Governor of Georgia</a> (1971–1975)</li> <li><a href="/wiki/Georgia_State_Senate" title="Georgia State Senate">Georgia State Senator</a> (1963–1967)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Presidency_of_Jimmy_Carter" title="Presidency of Jimmy Carter">Presidency</a> (<a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency" title="Timeline of the Jimmy Carter presidency">timeline</a>)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Presidential_transition_of_Jimmy_Carter" title="Presidential transition of Jimmy Carter">Transition</a></li> <li><a href="/wiki/Inauguration_of_Jimmy_Carter" title="Inauguration of Jimmy Carter">Inauguration</a></li> <li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency" title="Timeline of the Jimmy Carter presidency">Timeline</a> <ul><li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency_(1977)" title="Timeline of the Jimmy Carter presidency (1977)">1977</a></li> <li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency_(1978)" title="Timeline of the Jimmy Carter presidency (1978)">1978</a></li> <li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency_(1979)" title="Timeline of the Jimmy Carter presidency (1979)">1979</a></li> <li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency_(1980%E2%80%931981)" title="Timeline of the Jimmy Carter presidency (1980–1981)">1980</a></li> <li><a href="/wiki/Timeline_of_the_Jimmy_Carter_presidency_(1980%E2%80%931981)#January_1981" title="Timeline of the Jimmy Carter presidency (1980–1981)">January 1981</a></li></ul></li> <li><a href="/wiki/Political_positions_of_Jimmy_Carter" title="Political positions of Jimmy Carter">Political positions</a></li> <li><a href="/wiki/List_of_federal_judges_appointed_by_Jimmy_Carter" title="List of federal judges appointed by Jimmy Carter">Judicial appointments</a> <ul><li><a href="/wiki/Jimmy_Carter_judicial_appointment_controversies" title="Jimmy Carter judicial appointment controversies">controversies</a></li></ul></li> <li><a href="/wiki/List_of_executive_actions_by_Jimmy_Carter" title="List of executive actions by Jimmy Carter">Executive Actions</a> <ul><li><a href="/wiki/Executive_Order_12036" title="Executive Order 12036">Executive Order 12036</a></li> <li><a href="/wiki/Executive_Order_12086" title="Executive Order 12086">Executive Order 12086</a></li> <li><a href="/wiki/Executive_Order_12148" title="Executive Order 12148">Executive Order 12148</a></li> <li><a href="/wiki/Executive_Order_12170" title="Executive Order 12170">Executive Order 12170</a></li> <li><a href="/wiki/Executive_Order_12172" title="Executive Order 12172">Executive Order 12172</a></li></ul></li> <li><a href="/wiki/Carter_bonds" title="Carter bonds">Carter bonds</a></li> <li><a href="/wiki/Jimmy_Carter_rabbit_incident" title="Jimmy Carter rabbit incident">Rabbit incident</a></li> <li><a href="/wiki/Carter_Doctrine" title="Carter Doctrine">Carter Doctrine</a></li> <li><a href="/wiki/Camp_David_Accords" title="Camp David Accords">Camp David Accords</a> <ul><li><a href="/wiki/Egypt%E2%80%93Israel_peace_treaty" title="Egypt–Israel peace treaty">Egypt–Israel peace treaty</a></li></ul></li> <li><a href="/wiki/Torrijos%E2%80%93Carter_Treaties" title="Torrijos–Carter Treaties">Torrijos–Carter Treaties</a></li> <li><a href="/wiki/Iran_hostage_crisis" title="Iran hostage crisis">Iran hostage crisis</a> <ul><li><a href="/wiki/Operation_Eagle_Claw" title="Operation Eagle Claw">Operation Eagle Claw</a></li> <li><a href="/wiki/Canadian_Caper" title="Canadian Caper">Canadian Caper</a></li> <li><a href="/wiki/Jimmy_Carter%27s_engagement_with_Ruhollah_Khomeini" title="Jimmy Carter's engagement with Ruhollah Khomeini">Engagement with Ruhollah Khomeini</a></li> <li><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></li> <li><a href="/wiki/United_States_support_for_Iraq_during_the_Iran%E2%80%93Iraq_War" title="United States support for Iraq during the Iran–Iraq War">Support for Iraq during the Iran-Iraq War</a></li></ul></li> <li><a href="/wiki/Joint_Communiqu%C3%A9_on_the_Establishment_of_Diplomatic_Relations" title="Joint Communiqué on the Establishment of Diplomatic Relations">Diplomatic relations with China</a> <ul><li><a href="/wiki/Goldwater_v._Carter" title="Goldwater v. Carter">Goldwater v. Carter</a></li></ul></li> <li><a href="/wiki/Civil_Service_Reform_Act_of_1978" title="Civil Service Reform Act of 1978">Civil Service Reform Act of 1978</a> <ul><li><a href="/wiki/Senior_Executive_Service_(United_States)" title="Senior Executive Service (United States)">Senior Executive Service</a></li></ul></li> <li><a href="/wiki/Strategic_Arms_Limitation_Talks" title="Strategic Arms Limitation Talks">Strategic Arms Limitation Talks</a></li> <li><a href="/wiki/List_of_international_presidential_trips_made_by_Jimmy_Carter" title="List of international presidential trips made by Jimmy Carter">International trips</a></li> <li><a href="/wiki/1980_Summer_Olympics_boycott" title="1980 Summer Olympics boycott">1980 Summer Olympics boycott</a></li> <li><a href="/wiki/Cannabis_policy_of_the_Jimmy_Carter_administration" title="Cannabis policy of the Jimmy Carter administration">Cannabis policy</a></li> <li><a class="mw-selflink selflink">Community Reinvestment Act</a></li> <li><a href="/wiki/Airline_Deregulation_Act" title="Airline Deregulation Act">Airline Deregulation Act</a></li> <li><a href="/wiki/Clean_Air_Act_(United_States)" title="Clean Air Act (United States)">Clean Air Act Amendments of 1977</a></li> <li><a href="/wiki/Clean_Water_Act" title="Clean Water Act">Clean Water Act of 1977</a></li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">Depository Institutions Deregulation and Monetary Control Act</a></li> <li><a href="/wiki/Federal_Reserve_Reform_Act_of_1977" title="Federal Reserve Reform Act of 1977">Federal Reserve Reform Act of 1977</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a></li> <li><a href="/wiki/Fair_Debt_Collection_Practices_Act" title="Fair Debt Collection Practices Act">Fair Debt Collection Practices Act</a></li> <li><a href="/wiki/Financial_Institutions_Regulatory_and_Interest_Rate_Control_Act_of_1978" title="Financial Institutions Regulatory and Interest Rate Control Act of 1978">Financial Institutions Regulatory and Interest Rate Control Act of 1978</a> <ul><li><a href="/wiki/Right_to_Financial_Privacy_Act" title="Right to Financial Privacy Act">Right to Financial Privacy Act</a></li></ul></li> <li><a href="/wiki/Humphrey%E2%80%93Hawkins_Full_Employment_Act" title="Humphrey–Hawkins Full Employment Act">Humphrey–Hawkins Full Employment Act</a></li> <li><a href="/wiki/Superfund" title="Superfund">Superfund</a></li> <li><a href="/wiki/Surface_Mining_Control_and_Reclamation_Act_of_1977" title="Surface Mining Control and Reclamation Act of 1977">Surface Mining Control and Reclamation Act of 1977</a></li> <li><a href="/wiki/Solar_power_at_the_White_House" title="Solar power at the White House">Solar power at the White House</a></li> <li><a href="/wiki/Three_Mile_Island_accident" title="Three Mile Island accident">Three Mile Island accident</a></li> <li><a href="/wiki/Presidential_transition_of_Ronald_Reagan" title="Presidential transition of Ronald Reagan">Presidential transition of Ronald Reagan</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="9" style="width:1px;padding:0 0 0 2px"><div><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/6/68/Carter_cropped.jpg/100px-Carter_cropped.jpg" decoding="async" width="100" height="129" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/68/Carter_cropped.jpg/150px-Carter_cropped.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/68/Carter_cropped.jpg/200px-Carter_cropped.jpg 2x" data-file-width="1155" data-file-height="1490" /> <a href="/wiki/File:Seal_of_the_President_of_the_United_States.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/100px-Seal_of_the_President_of_the_United_States.svg.png" decoding="async" width="100" height="100" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/150px-Seal_of_the_President_of_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/200px-Seal_of_the_President_of_the_United_States.svg.png 2x" data-file-width="2424" data-file-height="2425" /></a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Speeches</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Moral_Equivalent_of_War_speech" title="Moral Equivalent of War speech">Moral Equivalent of War</a></li> <li><a href="/wiki/Island_of_Stability_(speech)" title="Island of Stability (speech)">Island of Stability</a></li> <li><a href="/wiki/A_Crisis_of_Confidence_speech" class="mw-redirect" title="A Crisis of Confidence speech">A Crisis of Confidence</a></li> <li>State of the Union Addresses <ul><li><a href="/wiki/1978_State_of_the_Union_Address" title="1978 State of the Union Address">1978</a></li> <li><a href="/wiki/1979_State_of_the_Union_Address" title="1979 State of the Union Address">1979</a></li> <li><a href="/wiki/1980_State_of_the_Union_Address" title="1980 State of the Union Address">1980</a></li> <li><a href="/wiki/1981_State_of_the_Union_Address" title="1981 State of the Union Address">1981</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Electoral_history_of_Jimmy_Carter" title="Electoral history of Jimmy Carter">Elections</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Georgia gubernatorial elections <ul><li><a href="/wiki/1966_Georgia_gubernatorial_election" title="1966 Georgia gubernatorial election">1966</a></li> <li><a href="/wiki/1970_Georgia_gubernatorial_election" title="1970 Georgia gubernatorial election">1970</a></li></ul></li> <li>Democratic Party presidential primaries <ul><li><a href="/wiki/1976_Democratic_Party_presidential_primaries" title="1976 Democratic Party presidential primaries">1976</a></li> <li><a href="/wiki/1980_Democratic_Party_presidential_primaries" title="1980 Democratic Party presidential primaries">1980</a></li></ul></li> <li>Democratic National Conventions <ul><li><a href="/wiki/1972_Democratic_National_Convention" title="1972 Democratic National Convention">1972</a></li> <li><a href="/wiki/1976_Democratic_National_Convention" title="1976 Democratic National Convention">1976</a></li> <li><a href="/wiki/1980_Democratic_National_Convention" title="1980 Democratic National Convention">1980</a></li></ul></li> <li>Presidential elections <ul><li><a href="/wiki/1976_United_States_presidential_election" title="1976 United States presidential election">1976</a> <ul><li><a href="/wiki/Jimmy_Carter_1976_presidential_campaign" title="Jimmy Carter 1976 presidential campaign">campaign</a></li></ul></li> <li><a href="/wiki/1980_United_States_presidential_election" title="1980 United States presidential election">1980</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post-presidency_of_Jimmy_Carter" title="Post-presidency of Jimmy Carter">Post-presidency</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carter_Center" title="Carter Center">Carter Center</a></li> <li><a href="/wiki/Jimmy_Carter_Library_and_Museum" title="Jimmy Carter Library and Museum">Presidential Library and Museum</a></li> <li><a href="/wiki/Habitat_for_Humanity" title="Habitat for Humanity">Habitat for Humanity</a> <ul><li><a href="/wiki/Jimmy_%26_Rosalynn_Carter_Work_Project" title="Jimmy & Rosalynn Carter Work Project">Jimmy & Rosalynn Carter Work Project</a></li></ul></li> <li><a href="/wiki/The_Elders_(organization)" title="The Elders (organization)">The Elders</a></li> <li><a href="/wiki/Jimmy_Carter_National_Historical_Park" title="Jimmy Carter National Historical Park">Jimmy Carter National Historical Park</a> <ul><li><a href="/wiki/Jimmy_and_Rosalynn_Carter_House" title="Jimmy and Rosalynn Carter House">Jimmy and Rosalynn Carter House</a></li></ul></li> <li><a href="/wiki/Nairobi_Agreement,_1999" title="Nairobi Agreement, 1999">Nairobi Agreement, 1999</a></li> <li><a href="/wiki/One_America_Appeal" title="One America Appeal">One America Appeal</a></li> <li><a href="/wiki/Continuity_of_Government_Commission" title="Continuity of Government Commission">Continuity of Government Commission</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Bibliography_of_Jimmy_Carter" title="Bibliography of Jimmy Carter">Books</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Everything_to_Gain:_Making_the_Most_of_the_Rest_of_Your_Life" title="Everything to Gain: Making the Most of the Rest of Your Life">Everything to Gain</a> (1987)</li> <li><a href="/wiki/The_Hornet%27s_Nest_(novel)" title="The Hornet's Nest (novel)">The Hornet's Nest</a> (2003)</li> <li><a href="/wiki/Our_Endangered_Values" title="Our Endangered Values">Our Endangered Values</a> (2006)</li> <li><a href="/wiki/Palestine:_Peace_Not_Apartheid" title="Palestine: Peace Not Apartheid">Palestine: Peace Not Apartheid</a> (2006) <ul><li><a href="/wiki/Commentary_on_Palestine:_Peace_Not_Apartheid" title="Commentary on Palestine: Peace Not Apartheid">reaction and commentary</a></li></ul></li> <li><a href="/wiki/Beyond_the_White_House" title="Beyond the White House">Beyond the White House</a> (2007)</li> <li><a href="/wiki/We_Can_Have_Peace_in_the_Holy_Land" title="We Can Have Peace in the Holy Land">We Can Have Peace in the Holy Land</a> (2009)</li> <li><a href="/wiki/White_House_Diary" title="White House Diary">White House Diary</a> (2010)</li> <li><a href="/wiki/A_Call_to_Action:_Women,_Religion,_Violence,_and_Power" title="A Call to Action: Women, Religion, Violence, and Power">A Call to Action</a> (2014)</li> <li><a href="/wiki/A_Full_Life" title="A Full Life">A Full Life</a> (2015)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_awards_and_honors_received_by_Jimmy_Carter" title="List of awards and honors received by Jimmy Carter">Awards and honors</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Nobel_Peace_Prize" title="Nobel Peace Prize">Nobel Peace Prize</a></li> <li><a href="/wiki/Presidential_Medal_of_Freedom" title="Presidential Medal of Freedom">Presidential Medal of Freedom</a></li> <li><a href="/wiki/Freedom_of_the_City" title="Freedom of the City">Freedom of the City</a></li> <li><a href="/wiki/Silver_Buffalo_Award" title="Silver Buffalo Award">Silver Buffalo Award</a></li> <li><a href="/wiki/Philadelphia_Liberty_Medal" class="mw-redirect" title="Philadelphia Liberty Medal">Philadelphia Liberty Medal</a></li> <li><a href="/wiki/United_Nations_Prize_in_the_Field_of_Human_Rights" title="United Nations Prize in the Field of Human Rights">United Nations Prize in the Field of Human Rights</a></li> <li><a href="/wiki/Hoover_Medal" title="Hoover Medal">Hoover Medal</a></li> <li><a href="/wiki/Christopher_Award" title="Christopher Award">Christopher Award</a></li> <li><a href="/wiki/Carter%E2%80%93Menil_Human_Rights_Prize" title="Carter–Menil Human Rights Prize">Carter–Menil Human Rights Prize</a></li> <li><a href="/wiki/Grammy_Award_for_Best_Spoken_Word_Album" class="mw-redirect" title="Grammy Award for Best Spoken Word Album">Grammy Award</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Legacy</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Jimmy_Carter_Peanut_Statue" title="Jimmy Carter Peanut Statue">Jimmy Carter Peanut Statue</a> (1976)</li> <li><a href="/wiki/USS_Jimmy_Carter" title="USS Jimmy Carter">USS Jimmy Carter</a></li> <li><a href="/wiki/Jimmy_Carter_National_Historical_Park" title="Jimmy Carter National Historical Park">Jimmy Carter National Historical Park</a> (1987)</li> <li><a href="/wiki/Statue_of_Jimmy_Carter" title="Statue of Jimmy Carter">Georgia State Capitol statue</a> (1994)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Residences <ul><li><a href="/wiki/Lillian_G._Carter_Nursing_Center" title="Lillian G. Carter Nursing Center">Birthplace</a></li> <li><a href="/wiki/Jimmy_and_Rosalynn_Carter_House" title="Jimmy and Rosalynn Carter House">Home</a></li></ul></li> <li><a href="/wiki/Mary_Prince_(nanny)" title="Mary Prince (nanny)">Mary Prince</a> (nanny)</li> <li><a href="/wiki/Jimmy_Carter_UFO_incident" title="Jimmy Carter UFO incident">UFO incident</a></li> <li><a href="/wiki/Jimmy_Carter_(film)" title="Jimmy Carter (film)">Jimmy Carter</a> (2002 television documentary)</li> <li><a href="/wiki/Man_from_Plains" title="Man from Plains">Man from Plains</a> (2007 documentary)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Family</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Rosalynn_Carter" title="Rosalynn Carter">Rosalynn Carter</a> (wife)</li> <li><a href="/wiki/Jack_Carter_(politician)" title="Jack Carter (politician)">Jack Carter</a> (son)</li> <li><a href="/wiki/Amy_Carter" title="Amy Carter">Amy Carter</a> (daughter)</li> <li><a href="/wiki/Jason_Carter_(politician)" title="Jason Carter (politician)">Jason Carter</a> (grandson)</li> <li><a href="/wiki/James_Earl_Carter_Sr." title="James Earl Carter Sr.">James Earl Carter Sr.</a> (father)</li> <li><a href="/wiki/Lillian_Gordy_Carter" title="Lillian Gordy Carter">Lillian Gordy Carter</a> (mother)</li> <li><a href="/wiki/Gloria_Carter_Spann" title="Gloria Carter Spann">Gloria Carter Spann</a> (sister)</li> <li><a href="/wiki/Ruth_Carter_Stapleton" title="Ruth Carter Stapleton">Ruth Carter Stapleton</a> (sister)</li> <li><a href="/wiki/Billy_Carter" title="Billy Carter">Billy Carter</a> (brother)</li> <li><a href="/wiki/Emily_Dolvin" title="Emily Dolvin">Emily Dolvin</a> (aunt)</li> <li><a href="/wiki/Hugh_Carter" title="Hugh Carter">Hugh Carter</a> (cousin)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow hlist" colspan="3"><div> <ul><li><a href="/wiki/Gerald_Ford" title="Gerald Ford">← Gerald Ford</a></li> <li><a href="/wiki/Ronald_Reagan" title="Ronald Reagan">Ronald Reagan →</a></li></ul> <ul><li><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /> <a href="/wiki/Category:Jimmy_Carter" title="Category:Jimmy Carter">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Bank_regulation_in_the_United_States" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Bank_regulation_in_the_United_States" title="Template:Bank regulation in the United States"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Bank_regulation_in_the_United_States" title="Template talk:Bank regulation in the United States"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Bank_regulation_in_the_United_States" title="Special:EditPage/Template:Bank regulation in the United States"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Bank_regulation_in_the_United_States" style="font-size:114%;margin:0 4em"><a href="/wiki/Bank_regulation_in_the_United_States" title="Bank regulation in the United States">Bank regulation in the United States</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Consumer_Financial_Protection_Bureau" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a></li> <li><a href="/wiki/Farm_Credit_Administration" title="Farm Credit Administration">Farm Credit Administration</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a></li> <li><a href="/wiki/Federal_Financial_Institutions_Examination_Council" title="Federal Financial Institutions Examination Council">Federal Financial Institutions Examination Council</a></li> <li><a href="/wiki/Federal_Housing_Finance_Agency" title="Federal Housing Finance Agency">Federal Housing Finance Agency</a></li> <li><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Federal Reserve Board of Governors</a></li> <li><a href="/wiki/Financial_Stability_Oversight_Council" title="Financial Stability Oversight Council">Financial Stability Oversight Council</a></li> <li><a href="/wiki/National_Credit_Union_Administration" title="National Credit Union Administration">National Credit Union Administration</a></li> <li><a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major federal legislation</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Independent_Treasury" title="Independent Treasury">Independent Treasury Act</a></li> <li><a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Act</a></li> <li><a href="/wiki/Federal_Reserve_Act" title="Federal Reserve Act">Federal Reserve Act</a></li> <li><a href="/wiki/McFadden_Act" title="McFadden Act">McFadden Act</a></li> <li><a href="/wiki/1933_Banking_Act" title="1933 Banking Act">1933 Banking Act</a></li> <li><a href="/wiki/Glass%E2%80%93Steagall_legislation" title="Glass–Steagall legislation">Glass–Steagall Act</a></li> <li><a href="/wiki/Federal_Credit_Union_Act" title="Federal Credit Union Act">Federal Credit Union Act</a></li> <li><a href="/wiki/Bank_Holding_Company_Act" title="Bank Holding Company Act">Bank Holding Company Act</a></li> <li>Interest Rate Control Act of 1966</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending Act</a></li> <li><a href="/wiki/Bank_Secrecy_Act" title="Bank Secrecy Act">Bank Secrecy Act</a></li> <li><a href="/wiki/Fair_Credit_Reporting_Act" title="Fair Credit Reporting Act">Fair Credit Reporting Act</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a></li> <li><a class="mw-selflink selflink">Community Reinvestment Act</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a></li> <li><a href="/wiki/Financial_Institutions_Regulatory_and_Interest_Rate_Control_Act_of_1978" title="Financial Institutions Regulatory and Interest Rate Control Act of 1978">Financial Institutions Regulatory and Interest Rate Control Act of 1978</a></li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">Monetary Control Act</a></li> <li><a href="/wiki/Garn%E2%80%93St._Germain_Depository_Institutions_Act" title="Garn–St. Germain Depository Institutions Act">Depository Institutions Act</a></li> <li>Competitive Equality Banking Act of 1987</li> <li><a href="/wiki/Financial_Institutions_Reform,_Recovery,_and_Enforcement_Act_of_1989" title="Financial Institutions Reform, Recovery, and Enforcement Act of 1989">FIRREA</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">FDICIA</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings Act</a></li> <li><a href="/wiki/Riegle-Neal_Interstate_Banking_and_Branching_Efficiency_Act_of_1994" class="mw-redirect" title="Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994">Riegle-Neal IBBEA</a></li> <li><a href="/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act" title="Gramm–Leach–Bliley Act">Gramm–Leach–Bliley Act</a></li> <li><a href="/wiki/Fair_and_Accurate_Credit_Transactions_Act" title="Fair and Accurate Credit Transactions Act">Fair and Accurate Credit Transactions Act</a></li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act</a></li> <li><a href="/wiki/Credit_CARD_Act_of_2009" title="Credit CARD Act of 2009">Credit CARD Act</a></li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank</a></li> <li><a href="/wiki/Economic_Growth,_Regulatory_Relief,_and_Consumer_Protection_Act" title="Economic Growth, Regulatory Relief, and Consumer Protection Act">EGRRCPA</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Federal Reserve Board regulations</div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Extensions of Credit by Federal Reserve Banks (Reg A)</li> <li><a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity (Reg B)</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure (Reg C)</a></li> <li><a href="/wiki/Regulation_D_(FRB)" title="Regulation D (FRB)">Reserve Requirements for Depository Institutions (Reg D)</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer (Reg E)</a></li> <li>Limitations on Interbank Liabilities (Reg F)</li> <li>International Banking Operations (Reg K)</li> <li>Consumer Leasing (Reg M)</li> <li>Loans to Insiders (Reg O)</li> <li>Privacy of Consumer Financial Information (Reg P)</li> <li><a href="/wiki/Regulation_Q" title="Regulation Q">Prohibition Against the Paying of Interest on Demand Deposits (Reg Q)</a></li> <li>Credit by Brokers and Dealers (Reg T)</li> <li>Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (Reg U)</li> <li>Transactions Between Member Banks and Their Affiliates (Reg W)</li> <li>Borrowers of Securities Credit (Reg X)</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending (Reg Z)</a></li> <li><a href="/wiki/Unfair_or_Deceptive_Acts_or_Practices" title="Unfair or Deceptive Acts or Practices">Unfair or Deceptive Acts or Practices (Reg AA)</a></li> <li><a class="mw-selflink selflink">Community Reinvestment (Reg BB)</a></li> <li><a href="/wiki/Expedited_Funds_Availability_Act" title="Expedited Funds Availability Act">Availability of Funds and Collection of Checks (Reg CC)</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings (Reg DD)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types of bank charter</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Credit_unions_in_the_United_States" title="Credit unions in the United States">Credit union</a></li> <li><a href="/wiki/Federal_savings_association" title="Federal savings association">Federal savings association</a></li> <li><a href="/wiki/National_bank_(United_States)" title="National bank (United States)">National bank</a></li> <li><a href="/wiki/State_bank_(United_States)" title="State bank (United States)">State bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">State authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/California_Department_of_Financial_Protection_and_Innovation" title="California Department of Financial Protection and Innovation">California</a></li> <li><a href="/wiki/Colorado_Department_of_Regulatory_Agencies" title="Colorado Department of Regulatory Agencies">Colorado</a></li> <li><a href="/wiki/Florida_Department_of_Financial_Services" title="Florida Department of Financial Services">Florida</a></li> <li><a href="/wiki/Illinois_Department_of_Financial_and_Professional_Regulation" title="Illinois Department of Financial and Professional Regulation">Illinois</a></li> <li><a href="/wiki/Maryland_Department_of_Labor" title="Maryland Department of Labor">Maryland</a></li> <li><a href="/wiki/Michigan_Department_of_Insurance_and_Financial_Services" title="Michigan Department of Insurance and Financial Services">Michigan</a></li> <li><a href="/wiki/New_Hampshire_Banking_Department" title="New Hampshire Banking Department">New Hampshire</a></li> <li><a href="/wiki/New_Jersey_Department_of_Banking_and_Insurance" title="New Jersey Department of Banking and Insurance">New Jersey</a></li> <li><a href="/wiki/New_York_State_Department_of_Financial_Services" title="New York State Department of Financial Services">New York</a></li> <li><a href="/wiki/Ohio_Department_of_Commerce" title="Ohio Department of Commerce">Ohio</a></li> <li><a href="/wiki/Oklahoma_State_Banking_Department" title="Oklahoma State Banking Department">Oklahoma</a></li> <li><a href="/wiki/Oregon_Department_of_Consumer_and_Business_Services" title="Oregon Department of Consumer and Business Services">Oregon</a></li> <li><a href="/wiki/Pennsylvania_Department_of_Banking" title="Pennsylvania Department of Banking">Pennsylvania</a></li> <li><a href="/wiki/Tennessee_Department_of_Financial_Institutions" title="Tennessee Department of Financial Institutions">Tennessee</a></li> <li><a href="/wiki/State_Corporation_Commission_(Virginia)" title="State Corporation Commission (Virginia)">Virginia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Terms</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Call_report" title="Call report">Call report</a></li> <li><a href="/wiki/CAEL_Rating" title="CAEL Rating">CAEL Rating</a></li> <li><a href="/wiki/CAMELS_rating_system" title="CAMELS rating system">CAMELS rating system</a></li> <li><a href="/wiki/Thrift_Financial_Report" title="Thrift Financial Report">Thrift Financial Report</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banking_in_the_United_States" title="Banking in the United States">Banking in the United States</a></li> <li><a href="/wiki/Fair_debt_collection" title="Fair debt collection">Fair debt collection</a></li> <li><a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">History of central banking in the United States</a></li> <li><a href="/wiki/Wildcat_banking" title="Wildcat banking">Wildcat banking</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /> <a href="/wiki/Category:Bank_regulation_in_the_United_States" title="Category:Bank regulation in the United 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