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Nash it says " consistent with the safe and sound operation of such institution."


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SEC. 804. (a) IN GENERAL.--In connection with its examination of a financial institution, the appropriate Federal financial supervisory agency shall--
(1) assess the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution; and
(2) take such record into account in its evaluation of an application for a deposit facility by such institution.
quote:
Nash it says " consistent with the safe and sound operation of such institution."


The entire law itself goes against the safe and sound operation of a lending institution by the way it's set up, so that's just fluff.

Read what it says.

(2) take such record into account in its evaluation of an application for a deposit facility by such institution.

Their record determines the acceptance or rejection of FDIC. The ratings are based on the neighborhoods as a whole, not individuals. The only way to keep a good rating is to lend to borrowers with bad credit or the inability to pay.

The law blankets communities, it doesn't protect individuals. It groups those with bad credit together with those with good credit and makes no distinction between the two.

I also posted an explanation from an economics professor saying the same thing. Do you know more about the CRA than he does simply because you read the far left press?

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