Credit to the Community: Community Reinvestment and Fair Lending Policy in the United States / Edition 1

by Dan Immergluck

Overview

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.

Product Details

ISBN-13:	9780765612588
Publisher:	Taylor & Francis
Publication date:	05/31/2004
Series:	Cities and Contemporary Society Series
Edition description:	New Edition
Pages:	336
Product dimensions:	6.00(w) x 9.00(h) x (d)

About the Author

Dan Immergluck

Table of Contents

1: Introduction; 2: The Visible Hand of Government in U.S. Credit Markets; 3: Discrimination, Redlining, and Financial Restructuring in Business Credit Markets; 4: A Brief History of Mortgage-Lending Discrimination and Redlining; 5: From Fair Access to Credit to Access to Fair Credit; 6: Mobilizing for Credit; 7: Community Reinvestment from 1988 to the End of the Twentieth Century; 8: The Predatory Lending Policy Debate; 9: The Community Reinvestment Act and Fair Lending Policy in the Twenty-first Century