http://minnesotaindependent.com/26838/report-in-mortgage-lending-twin-cities-have-some-of-worst-racial-disparities News. Politics. Media. Wed, 30 Nov 2011 23:48:28 +0000 hourly 1 http://wordpress.org/?v=3.1 http://minnesotaindependent.com/26838/report-in-mortgage-lending-twin-cities-have-some-of-worst-racial-disparities/comment-page-1#comment-25199 Eric Ferguson Wed, 18 Feb 2009 21:38:34 +0000 http://minnesotaindependent.com/?p=26838#comment-25199 I'm not sure what the authors mean by "expansion", but it's important for us to understand that CRA was weakened in the same deregulation that let different sorts of financial companies buy each other and prohibited regulation of credit default swaps. Expansion could mean just putting it back as it was. It already prohibited most predatory lending, but the teeth were removed. I bring this up because it's a favorite talking point of conservatives that CRA forced lenders to lend to uncreditworthy borrowers. I’m not sure what the authors mean by “expansion”, but it’s important for us to understand that CRA was weakened in the same deregulation that let different sorts of financial companies buy each other and prohibited regulation of credit default swaps. Expansion could mean just putting it back as it was. It already prohibited most predatory lending, but the teeth were removed. I bring this up because it’s a favorite talking point of conservatives that CRA forced lenders to lend to uncreditworthy borrowers.

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