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« Why Did the Mortgage Crisis Happen? | Main | Why Did the Mortgage Crisis Happen, Part 3 »

May 08, 2008


Mike Lion

Please discuss the role of the Community Reinvestment Act as renewed in 1995 (First passed in 1978, I believe).

This Act forced lower standards for borrowers on banks, and led to things like no-documentation loans and no-down payment loans. Banks that dis not comply were threatened with disapproval of merger plans or plans for new branches.

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