Political Quotes

James H. Carr: the Community Reinvestment Act is the only real act that really promotes and holds banks and other financial…

On the recordJuly 15, 2009
the Community Reinvestment Act is the only real act that really promotes and holds banks and other financial institutions accountable for proactively lending in communities and not ignoring the legitimate credit needs.
Said by
James H. Carr
Massachusetts

Editor's note · Context

Argues that the Community Reinvestment Act is essential for ensuring banks lend to communities.

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the U.S. economy is mired in the worst economic crisis in more than half a century.

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the goal of that agency is to ensure access to safe and sound products, and it can't do so to minority communities if it is only looking at individuals, because the financial system doesn't treat individuals the same in minority…

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