New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com
But a new study by the respected National Bureau of Economic Research finds, "Yes, it did. We find that adherence to that act led to riskier lending by banks."
Added NBER: "There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts," or predominantly low-income and minority areas.
Democrats blocking GSE reform, insinuating the investigator into GSE corruption was racist