Download or read book The Community Reinvestment Act and Its Implications on Bank Expansion and Performance written by Dennis J. Maher and published by . This book was released on 1993 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Community Reinvestment Act written by Roland E. Brandel and published by . This book was released on 1989 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effectiveness of the Community Reinvestment Act written by Congressional Research Service and published by CreateSpace. This book was released on 2015-01-07 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Community Reinvestment Act (CRA; P.L. 95-128, 12 U.S.C. §§ 2901-2908) addresses how banking institutions meet credit needs in low- and moderate-income (LMI) neighborhoods. The federal banking regulatory agencies—the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC)—currently implement the CRA. The regulators conduct examinations to evaluate how banks are fulfilling the objectives of the CRA and issue performance ratings. Having a satisfactory or better CRA rating is desirable when banks request to merge with other banking institutions. The CRA, which was enacted in 1977, was subsequently revised in 1989 to require public disclosure of bank CRA ratings and for the CRA examination to have a four-tiered system of descriptive performance levels (i.e., Outstanding, Satisfactory, Needs to Improve, or Substantial Noncompliance). In 1995, the CRA examination was customized to account for differences in bank sizes and business models. In 2005, the bank size definitions were revised and indexed to the Consumer Price Index. The definition of community development was also modified to expand CRA opportunities for public welfare investments. In addition, the CRA has evolved to include consumer and business lending, community investments, and low-cost services that would benefit LMI areas and entities. Congressional concerns regarding the CRA stem from various perceptions of its effectiveness. Some contend that the CRA creates incentives for banks to make loans to unqualified borrowers likely to have repayment problems, which can translate into losses for lenders. Others are concerned that the CRA is not generating sufficient incentives to increase credit availability to qualified LMI borrowers, which may impede economic recovery for some following the 2007- 2009 recession. This report informs the congressional debate concerning the CRA's effectiveness in incentivizing bank lending and investment activity to LMI borrowers. After a discussion of the CRA's origins, it presents the CRA's examination process and bank activities that are eligible for consideration of CRA credits. Next, it discusses the difficulty of determining the CRA's influence on bank behavior. For example, it could be argued that, by encouraging lending in LMI neighborhoods, the CRA may also encourage the issuance of higher-risk loans. Regulators, however, generally do not award CRA credits for payday and most subprime (nontraditional mortgage) loans, even if these loans originated in LMI areas. This regulatory practice suggests the CRA has little or no influence on higher-risk lending. In addition, banks face a variety of financial incentives (e.g., capital requirements, the current interest rate environment, consumer credit demand, and consumer credit history) that influence how much (or how little) they lend to LMI borrowers. Because financial and CRA incentives concurrently exist, it is difficult to separate how much influence should be attributed solely to the CRA. Furthermore, compliance with CRA does not require adherence to lending quotas or benchmarks. In the absence of benchmarks, determining the extent to which CRA incentives have influenced LMI credit availability relative to other factors is not straightforward.
Download or read book Community Reinvestment Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1988 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Democratizing Capital written by Richard Marsico and published by . This book was released on 2005 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In Democratizing Capital, Professor Richard Marsico offers a bold proposal for improving the Community Reinvestment Act (CRA), a law that has done more than any other to "democratize capital" by bringing under privileged people and neighbourhoods into the economic mainstream." "Democratizing Capital will be of interest to policymakers, bankers seeking to comply with the law, government officials seeking to enforce it, community groups seeking to increase lending in their neighbourhoods, students interested in learning about the CRA, and anyone else interested in low-income community economic development."--BOOK JACKET.
Download or read book Riegle Community Development and Regulatory Improvement Act of 1994 written by United States and published by . This book was released on 1994 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book FDIC Quarterly written by and published by . This book was released on 2009 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modernizing the U S Census written by National Research Council and published by National Academies Press. This book was released on 1994-02-01 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. census, conducted every 10 years since 1790, faces dramatic new challenges as the country begins its third century. Critics of the 1990 census cited problems of increasingly high costs, continued racial differences in counting the population, and declining public confidence. This volume provides a major review of the traditional U.S. census. Starting from the most basic questions of how data are used and whether they are needed, the volume examines the data that future censuses should provide. It evaluates several radical proposals that have been made for changing the census, as well as other proposals for redesigning the year 2000 census. The book also considers in detail the much-criticized long form, the role of race and ethnic data, and the need for and ways to obtain small-area data between censuses.
Download or read book Credit to the Community written by Dan Immergluck and published by Routledge. This book was released on 2016-07-08 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the most comprehensive examination of community reinvestment and fair lending problems and policies currently available. It outlines the history of lending discrimination and redlining in U.S. mortgage and small business lending markets, and documents the persistence of such problems today. The author explains the role that government has played in developing banking and credit markets in the United States, from the creation of Alexander Hamilton's First Bank of the United States to the ongoing support government provides through the subsidization of secondary markets and through maintenance of critical regulatory infrastructure. Immergluck takes issue with those calling for deregulation of financial services - especially in the arena of fair lending and consumer protection - and gives new voice to rationales for social contract policies such as the Community Reinvestment Act. He provides new long-term analysis of the failure of federal bank regulators to enforce the CRA, and also shows how increased community activism and media attention have led to sporadic periods of stronger CRA enforcement. Finally, he recommends a number of policy changes that are needed to modernize the nation's fair lending and community reinvestment laws and make them more relevant for the 21st century.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.
Download or read book Finance Development March 2012 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2012-03-14 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist. Back to basics - The multi-dimensional role of banks in our financial systems.
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Download or read book A Guide to Tribal Ownership of a National Bank written by Office of Office of the Comptroller of the Currency and published by CreateSpace. This book was released on 2015-01-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide, prepared by the Office of the Comptroller of the Currency (OCC), is intended to provide an introduction to tribal ownership of national banks. The OCC encourages tribes and national banks to consult with counsel familiar with banking law, federal Indian law, and tribal law, as appropriate, to obtain specific advice on chartering, acquiring, or operating a national bank.
Download or read book Strategic Planning for Financial Institutions written by Bernard Taylor and published by Bodley Head. This book was released on 1974 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph comprising articles and conference papers on planning of banking services, intended for bankers in the UK - studies trends in respect of insurance, financial markets, consumer credit, etc., and examines the practical management problems of organizing, executing and controlling long term plans. Conference held in bradford 1972 jul.
