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The Community Reinvestment Act after Financial Modernization: A Final Report

By Litan, Robert E.

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Book Id: WPLBN0000657320
Format Type: PDF eBook
File Size: 409.77 KB.
Reproduction Date: 2005
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Title: The Community Reinvestment Act after Financial Modernization: A Final Report  
Author: Litan, Robert E.
Language: English
Subject: Government publications, Economics., United States. Department of the Treasury--Appropriations and Expenditures.
Collections: U.S. Department of the Treasury Collection
Publication Date:
Publisher: United States Department of the Treasury


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Litan, R. E. (n.d.). The Community Reinvestment Act after Financial Modernization: A Final Report. Retrieved from

Government Reference Publication

Excerpt: Robert E. Litan is the Vice President and Director of the Economic Studies Program at the Brookings Institution, where he also holds the Cabot Family Chair in Economics. He previously served as Associate Director of the Office of Management and Budget, and as Deputy Assistant Attorney General in the Antitrust Division of the Justice Department. He was a consultant to the Treasury Department on financial modernization issues from 1995 through 1996, and co-author of the Treasury report to Congress, American Finance for the 21st Century. At Brookings, Dr. Litan is co-editor of the Brookings-Wharton Papers on Financial Services and an annual series on Emerging Markets Finance, published jointly with the World Bank and the IMF. During the course of his career, Dr. Litan has authored or edited over 20 books and over 100 articles in professional journals on a wide range of economic policy and legal issues, especially those dealing with the financial services industry and government policy...

Table of Contents
TABLE OF CONTENTS Executive Summary ??????????????????????????..?. ES-1 Principal Findings of the Report ????????????????????. ES-3 Chapter I: Introduction and Background ??????????????????...?. 1 Background on the Community Reinvestment Act ????????????.?..? 2 Chapter II: Preliminary Assessment of the Effects of the GLB Act on CRA Activity: Financial Institution Interviews ??????????????... 5 Factors that Influence Institutions? CRA Activity ???????????????. 7 Macroeconomic Factors Metropolitan Area Factors Public Policy Factors Lending Industry Factors Institutional Business Strategies and Management Philosophies Projected Effects of the GLB Act on CRA Activity and Performance ???????.10 Sunshine Provisions ?Satisfactory? Rating for Expanded Powers Relaxation of Small Bank Examination Schedule Effects of Expanded Powers and Other Broader Provisions on Community Lending Performance Increased Competition for CRA Activity by New Entrants Into CRACovered Businesses CRA Management and Structure ?????????????????????. 16 Industry-wide Pressures and Competition Affecting CRA Activity ???????... 18 Emerging Emphasis on Internet and Technology Subprime Lending Referrals Within Financial Institutions New Marketing Channels Conclusions ?????????????????????????????.. 21 Chapter III: Benchmarking Home Purchase Lending Performance of CRA-Regulated Institutions ??????????????????????... 22 CRA-Lenders? CRA and Minority Lending Performance ???????????.. 26 Geographic and Product Changes in CRA-Eligible Home Purchase Loans ?. ???..30 Benchmarking Home Purchase Loans Made by CRA-Lenders and Affiliates Against Loans Made by Non-CRA-Lenders ???????????????. 32


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