Whats total and complete BS are the Democrat attempts to cover their asses after the Subprime mortgage crisis. Its the same nonsense you just brought up and it can be easily debunked.
In 1993 the Riegle Neal interstate Banking Act was signed by Clinton.
The law tied a banks CRA score directly to their ability to expand and grow by way of merger across State lines.
Then in 1995, the Clinton administration passed a long list of executive orders via his National Homeowner-ship strategy.
Among other things the National Homeowner-ship strategy published banks CRA Scores.
Community organizations and Federal agencies took advantage of this by targeting ( extorting ) banks who had low CRA scores.
For example, Janet Reno bragged in 1998 that JUST the Justice department had already SUCCESSFULLY targeted ( sued ) 13 different lenders and she vowed to target more.
In 1999 HUD settled with AcuBank for 2.1 Billion dollars
Banks were FORCED. Clinton's Treasury Secretary bragged in a E-mail sent to Clinton in 1998 that Clintons new CRA changes had led to a 1 Trillion dollar increase in CRA commitments.
Clinton's National Homeowner-ship strategy also lowered the GSEs Capital requirements on loans purchased down to 3 percent and it increased their HUD " affordable lending " quota to 42 percent.
It also gave the GSEs " affordable lending " credit for their purchase of Subprime securities.
So as usual you have no idea what your'e talking about.