U.S. banks post $37.6 billion in third-quarter profits

[99th_Monkey]

3. Whatever happened to the Community Reinvestment Act?

This was a good law with some real teeth, pushed into law by Carter and was
working quite well for awhile getting banks big and small to do projects that
had a clear public benefit, such as building permanently affordable housing,
micro-business start-ups, etc. benefiting lower income citizens & neighborhoods.

I worked this hard during the 90s and when I referenced the CRA, the bankers
were quite accommodating with our projects, provided of course that they did
pencil out to at least break even, and then to actually do that, and make it work.

The CRA apparently still exists, at least on paper, here:
http://www.ffiec.gov/cra/default.htm

When I google "Whatever happened to the Community Reinvestment Act?"
all I get is Right Wingnut bloggers spouting stuff about it, as if we should
forget all about the CRA, that the CRA was responsible for the 2008 collapse
of the economy. Unbelievable.
https://www.google.com/webhp?sa=N&hl=en&tab=lw#hl=en&tbo=d&sclient=psy-ab&q=Whatever+happened+to+the+Community+Reinvestment+Act+&oq=Whatever+happened+to+the+Community+Reinvestment+Act+&gs_l=serp.12..35i39.5413.6028.0.7608.4.4.0.0.0.2.230.561.2j1j1.4.0.les%3B..0.0...1c.1.a8YJHIDIjKE&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=ff3409d776c343af&bpcl=39468505&biw=1773&bih=919