Fed Governor Presents Study to Debunk Critics’ Claims that CRA is to Blame for Subprime Mess
December 4, 2008
A top Federal Reserve Board official this week disputed conservatives’ claims that the Community Reinvestment Act played a major role in the country’s current financial crisis. In remarks during a Fed policy forum on concentrated poverty in America, Fed Governor Randall Kroszner said an agency study debunks assertions that the CRA was at the root of, or somehow...