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Neighborhoods and banking Author info | Abstract | Publisher info | Download info | Related research | Statistics Jeffrey M. Lacker
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Federal banking agencies recently revised the regulation implementing the Community Reinvestment Act, which encourages banks to lend in low- and moderate-income neighborhoods. Since there is little conclusive empirical evidence that banks fail to meet the credit needs of such neighborhoods, however, the CRA regulations should instead be viewed as a tax on banking. Direct public subsidies for community development would be a more efficient means of improving the condition of low-income neighborhoods.
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Article provided by Federal Reserve Bank of Richmond in its journal Economic Quarterly .
Volume (Year): (1995)
Issue (Month): Spr ()
Pages: 13-38
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Handle: RePEc:fip:fedreq:y:1995:i:spr:p:13-38Contact details of provider: Web page: http://www.richmondfed.org/ More information through EDIRC
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For technical questions regarding this item, or to correct its listing, contact: (Diane Rosenberger).
Keywords: Community Reinvestment Act of 1977 Mortgages Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Robert M. Townsend, 1994.
"Community development banking and Financial Institutions Act: a critique with recommendations ,"
Proceedings ,
Federal Reserve Bank of Chicago, issue May, pages 538-546.
Schill, Michael H & Wachter, Susan M, 1994.
"Borrower and Neighborhood Racial and Income Characteristics and Financial Institution Mortgage Application Screening ,"
The Journal of Real Estate Finance and Economics ,
Springer, vol. 9(3), pages 223-39, November.
Berkovec, James A, et al, 1994.
"Race, Redlining, and Residential Mortgage Loan Performance ,"
The Journal of Real Estate Finance and Economics ,
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Griffith L. Garwood & Dolores S. Smith, 1993.
"The Community Reinvestment Act: evolution and current issues ,"
Federal Reserve Bulletin ,
Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 251-267.
Lang William W. & Nakamura Leonard I., 1993.
"A Model of Redlining ,"
Journal of Urban Economics ,
Elsevier, vol. 33(2), pages 223-234, March.
[Downloadable!] (restricted)
Michael H. Schill & Susan M. Wachter, 1994.
"Borrower and neighborhood racial and income characteristics and financial institution mortgage application screening ,"
Proceedings ,
Federal Reserve Bank of Philadelphia, pages 223-243.
Glenn B. Canner, 1982.
"Redlining : research and federal legislative response ,"
Staff Studies
121, Board of Governors of the Federal Reserve System (U.S.).
Robert B. Avery & Patricia E. Beeson & Mark S. Sniderman, 1993.
"Accounting for racial differences in housing credit markets ,"
Working Paper
9310, Federal Reserve Bank of Cleveland.
[Downloadable!]
Duca John V. & Rosenthal Stuart S., 1993.
"Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets ,"
Journal of Financial Intermediation ,
Elsevier, vol. 3(1), pages 77-103, October.
[Downloadable!] (restricted)
Other versions: Alicia H. Munnell, 1992.
"Mortgage lending in Boston: interpreting HMDA data ,"
Working Papers
92-7, Federal Reserve Bank of Boston.
[Downloadable!]
Other versions: Blau, Francine D & Kahn, Lawrence M, 1981.
"Causes and Consequences of Layoffs ,"
Economic Inquiry ,
Oxford University Press, vol. 19(2), pages 270-96, April.
Calomiris, Charles W & Kahn, Charles M & Longhofer, Stanley D, 1994.
"Housing-Finance Intervention and Private Incentives: Helping Minorities and the Poor ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 26(3), pages 634-74, August.
[Downloadable!] (restricted)
Other versions: Holmes, Andrew & Horvitz, Paul, 1994.
" Mortgage Redlining: Race, Risk, and Demand ,"
Journal of Finance ,
American Finance Association, vol. 49(1), pages 81-99, March.
[Downloadable!] (restricted)
Cochrane, John H, 1991.
"A Simple Test of Consumption Insurance ,"
Journal of Political Economy ,
University of Chicago Press, vol. 99(5), pages 957-76, October.
[Downloadable!] (restricted)
James A. Berkovec & Glenn B. Canner & Stuart A. Gabriel & Timothy H. Hannan, 1994.
"Race, redlining, and residential mortgage loan performance ,"
Proceedings ,
Federal Reserve Bank of Philadelphia, pages 263-298.
Clifford B. Hawley & Edwin T. Fujii, 1991.
"Discrimination in Consumer Credit Markets ,"
Eastern Economic Journal ,
Palgrave Macmillan Journals, vol. 17(1), pages 21-30, Jan-Mar.
[Downloadable!] (restricted)
Clifford B. Hawley & Edwin T. Fujii, 1991.
"Discrimination in Consumer Credit Markets ,"
Eastern Economic Journal ,
Eastern Economic Association, vol. 17(1), pages 21-30, Jan-Mar.
[Downloadable!]
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Robert L. Lacy & John R. Walter, 2002.
"What can price theory say about the Community Reinvestment Act? ,"
Economic Quarterly ,
Federal Reserve Bank of Richmond, issue Spr, pages 1-27.
[Downloadable!]
Jeffery W. Gunther, 1999.
"Between a rock and a hard place: the CRA-safety and soundness pinch ,"
Economic and Financial Policy Review ,
Federal Reserve Bank of Dallas, issue Q II, pages 32-41.
[Downloadable!]
Ross N. Dickens & Roger M. Shelor & Marc C. Chopin, 1996.
"Mortgage Lenders' Market Response to a Landmark Regulatory Decision Based on Fair Lending Compliance ,"
Journal of Real Estate Research ,
American Real Estate Society, vol. 11(1), pages 57-70.
[Downloadable!]
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