February 6, 2009 | Federal Reserve Bank of Cleveland
The Community Reinvestment Act has come under increasing scrutiny as a result of the nation’s subprime lending and foreclosure crises. What role, if any, did the landmark legislation play in the demise of the nation’s financial services industry? How should policymakers modify the CRA to ensure it meets the credit needs of low- and moderate-income individuals going forward?
This one-day conference included presentations and discussions on the CRA that are aimed at facilitating an exchange of research-informed perspectives on the role of the Community Reinvestment Act in delivering financial services to individuals in low- and moderate-income communities. The conference is part of the Cleveland Fed’s ongoing efforts to facilitate and help inform high-level discussions on proposed regulatory reform—in this instance, the regulation of financial services available to low- and moderate-income individuals.
Topics Presented (proceedings)
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Opening Remarks | February 6, 2009
Ruth Clevenger, Federal Reserve Bank of Cleveland
bio
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Financial Services, Saving, and Borrowing Among Low- and Moderate-Income Households
Ben Keys, University of Michigan Law School
bio | presentation
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Discrimination in the Mortgage Market
Stephen Ross, University of Connecticut
bio |presentation
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The CRA and Mortgage Lending in LMI Neighborhoods
Neil Bhutta, Federal Reserve Board of Governors
bio |presentation | paper
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CRA Lending in the Fourth District
Lisa Nelson, Federal Reserve Bank of Cleveland
bio | presentation
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Lunch and Speaker
Mark Willis, Ford Foundation
bio
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Impact of the CRA on Household and Financial Institution Incentives
Robert Avery, Federal Reserve Board of Governors
bio |presentation | paper
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The Impact of CRA Agreements on Community Banks
Breck Robinson, University of Delaware
bio |presentation
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The Role of the CRA in the Subprime Crisis
Glenn Canner, Federal Reserve Board of Governors
bio | presentation
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Viability of the CRA and Potential Alternantives
Peter Wallison, American Enterprise Institute
bio
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Open Discussion
Mark Sniderman, moderator