The person who Posted about the impact of the " CRA " Community Reinvestment Act is dead on correct .
I saw it upfront as I was a senior executive at one of our Nation`s larger Banks and actually sat on it`s CRA Committee for many years across the Administrations of Bush I , Clinton , Bush 2 and part of Obie`s .
The " Rules " were ever changing and always very ambiguous . One set of Gvt Auditors would have one interpretation and another Audit Team would have another .
Eventually you were forced to market heavily into Minority Communities using Direct Mail , targeting advertising and finally talks at Churches to beg any minority to come in to apply for a loan in order to get increase the number of loans to minorities .
The real story of what banks had to do to meet the demands of the Gvt Regulators would probably stun you . It was at it`s worse during the reign of WJC .