On the recordOctober 16, 2008
The overwhelming majority of predatory subprime loans were made by lenders and brokers who were not, I repeat were not, subject to CRA.
Chuck Schumer: “The overwhelming majority of predatory subprime loans were made by lenders and brokers who were not, I repeat were not…”
Editor's note · Context
Schumer clarifies that most predatory loans were made by entities not regulated by the Community Reinvestment Act.
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