100
Views
11
CrossRef citations to date
0
Altmetric
Original Articles

What makes community reinvestment act agreements work? A study of lender responses

&
Pages 513-545 | Published online: 31 Mar 2010

References

  • Apgar , William and Duda , Mark . 2003 . The Twenty‐Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges . FRB New York Policy Review , 9 (2) : 169 – 91 .
  • Arrow , Kenneth J. 1972a . “ Models of Job Discrimination ” . In Racial Discrimination in Economic Life , Edited by: Pascal , Anthony H. 83 – 102 . Lexington, MA : Lexington .
  • Arrow , Kenneth J. 1972b . “ Some Mathematical Models of Race Discrimination in the Labor Market ” . In Racial Discrimination in Economic Life , Edited by: Pascal , Anthony H. 187 – 203 . Lexington, MA : Lexington .
  • Avery , Robert B. , Bostic , Raphael W. , Calem , Paul S. and Canner , Glenn B. 1999 . Trends in Home Purchase Lending: Consolidation and the Community Reinvestment Act . Federal Reserve Bulletin , 85 (2) : 81 – 102 .
  • Avery , Robert B. , Bostic , Raphael W. and Canner , Glenn B. 2005 . Assessing the Necessity and Efficiency of the Community Reinvestment Act . Housing Policy Debate , 16 (1) : 143 – 72 .
  • Avery , Robert B. , Calem , Paul S. and Canner , Glenn B. 2003 . The Effects of the Community Reinvestment Act on Local Communities , Board of Governors of the Federal Reserve System . Unpublished paper
  • Barr , Michael S. 2005 . Credit Where It Counts: The Community Reinvestment Act and Its Critics . New York University Law Review , 80 (2) : 513 – 652 .
  • Becker , Gary S. 1971 . The Economics of Discrimination. , 2nd ed. , Chicago : University of Chicago Press .
  • Benston , George J. and Horsky , Daniel . 1979 . Redlining and the Demand for Mortgages in the Central City and Suburbs . Journal of Bank Research , 10 (2) : 72 – 87 .
  • Berger , Allen N. , Klapper , Leora F. and Udell , Gregory F. 2001 . The Ability of Banks to Lend to Informationally Opaque Small Businesses . Journal of Banking and Finance , 25 : 2127 – 67 .
  • Berger , Allen N. and Udell , Gregory F. 1998 . The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle . Journal of Banking and Finance , 22 : 613 – 74 .
  • Berkovec , James and Zorn , Peter . 1996 . How Complete Is HMDA? HMDA Coverage of Freddie Mac Purchases . Journal of Real Estate Research , 11 (1) : 39 – 55 .
  • Black , Harold , Schweitzer , Robert L. and Mandell , Lewis . 1978 . Discrimination in Mortgage Lending . American Economic Review , 68 (2) : 186 – 91 .
  • Board of Governors of the Federal Reserve System . 2000 . The Performance and Profitability of CRA‐Related Lending: Report to Congress Washington, DC
  • Board of Governors of the Federal Reserve System. 2005. Press release, February 25. World Wide Web page <http://www.federalreserve.gov/boarddocs/press/bcreg/2005/20050225/default. htm> (accessed September 29).
  • Bostic , Raphael W. and Robinson , Breck L. 2003 . Do CRA Agreements Influence Lending Patterns? . Real Estate Economics , 31 : 23 – 51 .
  • Bostic , Raphael W. and Robinson , Breck L. 2004 . The Impact of CRA Agreements on Community Banks . Journal of Banking and Finance , 28 : 3069 – 95 .
  • Bradford , David F. and Kelejian , Harry H. 1972 . An Econometric Model of Flight to the Suburbs . Journal of Political Economy , 81 : 566 – 89 .
  • Brown , L. David . 1998 . “ Creating Social Capital: Nongovernmental Development Organizations and Intersectoral Problem Solving ” . In Private Action and the Public Good , Edited by: Powell , Walter W. and Clemens , Elisabeth S. 228 – 41 . New Haven, CT : Yale University Press .
  • Calem , Paul S. 1996 . Mortgage Credit Availability in Low‐ and Moderate‐Income Minority Neighborhoods: Are Information Externalities Critical? . Journal of Real Estate Finance and Economics , 13 (1) : 71 – 89 .
  • Calomiris , Charles W. , Kahn , Charles M. and Longhofer , Stanley D. 1994 . Housing Finance Intervention and Private Incentives: Helping Minorities and the Poor . Journal of Money, Credit, and Banking , 26 (3) : 634 – 74 .
  • De Vita , Carol J. 1999 . “ Nonprofits and Devolution: What Do We Know? ” . In Nonprofits and Government: Collaboration and Conflict , Edited by: Boris , Elizabeth T. and Steuerle , C. Eugene . 213 – 33 . Washington, DC : Urban Institute Press .
  • Federal Deposit Insurance Corporation and the Comptroller of the Currency . 2005 . Federal Banking Agencies Propose Revisions to Community Reinvestment Act Regulations Press release, February 22. World Wide Web page <http://www.fdic.gov/news/news/press/2005/pr1305.html> (accessed September 29)
  • Fishbein , Allen J. 1992 . The Ongoing Experiment with “Regulation from Below”: Expanded Reporting Requirements for HMDA and CRA . Housing Policy Debate , 3 (2) : 601 – 36 .
  • Frey , William H. 1980 . Status Selective White Flight and Central City Population Change: A Comparative Analysis . Journal of Regional Science , 20 : 71 – 89 .
  • Garwood , Griffith L. and Smith , Delores S. 1993 . The Community Reinvestment Act: Evolution and Current Issues . Federal Reserve Bulletin , 79 : 251 – 67 .
  • Goldberg , Deborah . 2002 . The Community Investment Act and the Modernized Financial Services World . ABA Bank Compliance , January/February : 13 – 19 .
  • Gruben , William C. , Neuberger , Jonathan A. and Schmidt , Ronald H. 1990 . Imperfect Information and the Community Reinvestment Act . Federal Reserve Bank of San Francisco Economic Review , 0 (3) : 27 – 46 .
  • Gunther , Jeffery W. 2000 . Should CRA Stand for Community Redundancy Act? . Cato Institute Regulation , 23 : 56 – 60 .
  • Harrison , David M. 2001 . The Importance of Lender Heterogeneity in Mortgage Lending . Journal of Urban Economics , 49 (2) : 285 – 309 .
  • Harvey , Kenneth D. , Collins , M. Cary , Nigro , Peter and Robinson , Breck L. 2001 . Disparities in Mortgage Lending, Bank Performance, Economic Influence, and Regulatory Oversight . Journal of Real Estate and Finance , 23 : 379 – 410 .
  • Immergluck , Daniel . 2004 . Credit to the Community: Community Reinvestment and Fair Lending Policy in the United States , Armonk, NY : Sharpe .
  • Joint Center for Housing Studies . 2002 . The 25th Anniversary of the Community Reinvestment Act: Access to Capital in an Evolving Financial Services System , Cambridge, MA : Harvard University .
  • Kain , John F. 1968 . Housing Segregation, Negro Employment, and Metropolitan Decentralization . Quarterly Journal of Economics , 82 : 32 – 59 .
  • Lacker , Jeffrey M. 1995 . Neighborhoods and Banking . Federal Reserve Bank of Richmond Economic Quarterly , 81 (2) : 13 – 38 .
  • Lacy , Robert L. and Walter , John R. 2002 . What Can Price Theory Say about the Community Reinvestment Act? . Federal Reserve Bank of Richmond Economic Quarterly , 88 : 2 – 27 .
  • Lang , William W. and Nakamura , Leonard I. 1993 . A Model of Redlining . Journal of Urban Economics , 33 : 223 – 34 .
  • Lauria , Mickey . 1998 . A New Model of Neighborhood Change: Reconsidering the Role of White Flight . Housing Policy Debate , 9 (2) : 395 – 424 .
  • Ling , David C. and Wachter , Susan M. 1998 . Information Externalities and Home Mortgage Underwriting . Journal of Urban Economics , 44 (3) : 317 – 32 .
  • Litan , Robert E. , Retsinas , Nicholas P. , Belsky , Eric S. , Fauth , Gary , Kennedy , Maureen and Leonard , Paul . 2001 . The Community Reinvestment Act after Financial Modernization: A Final Report , Washington, DC : U.S. Department of the Treasury .
  • Longhofer , Stanley D. and Peters , Stephen . 2005 . Self‐Selection and Discrimination in Credit Markets . Real Estate Economics , 33 (2) : 237 – 68 .
  • Massey , Douglas S. and Denton , Nancy A. 1993 . American Apartheid: Segregation and the Making of the Underclass , Cambridge, MA : Harvard University Press .
  • Munnell , Alicia H. , Tootell , Geoffrey M. B. , Browne , Lynn E. and McEneaney , James . 1996 . Mortgage Lending in Boston: Interpreting the HMDA Data . American Economic Review , 86 (1) : 25 – 53 .
  • Murray , Charles . 1984 . Losing Ground: American Social Policy, 1950–1980 , New York : Basic .
  • National Community Reinvestment Coalition . 2002 . CRA Commitments Washington, DC
  • Office of Thrift Supervision . 2004 . Community Reinvestment Act Regulations . Federal Register , 69 (159) : 51 155 – 161 .
  • Phillips , Robert F. and Yezer , Anthony M. J. 1996 . Self‐Selection and Tests for Bias and Risk in Mortgage Lending: Can You Price the Mortgage if You Don't Know the Process? . Journal of Real Estate Research , 11 (1) : 87 – 102 .
  • Rachlis , Mitchell B. and Yezer , Anthony M. J. 1993 . Serious Flaws in Statistical Tests for Discrimination in Mortgage Markets . Journal of Housing Research , 4 (2) : 315 – 36 .
  • Schill , Michael H. , Ellen , Ingrid Gould , Schwartz , Amy Ellen and Voicu , Ioan . 2002 . Revitalizing Inner‐City Neighborhoods: New York City's Ten‐Year Plan . Housing Policy Debate , 13 (3) : 529 – 66 .
  • Schwartz , Alex . 1998a . Bank Lending to Minority and Low‐Income Households and Neighborhoods: Do Community Reinvestment Agreements Make a Difference? . Journal of Urban Affairs , 20 (3) : 269 – 301 .
  • Schwartz , Alex . 1998b . From Confrontation to Collaboration? Banks, Community Groups, and the Implementation of Community Reinvestment Agreements . Housing Policy Debate , 9 (3) : 631 – 62 .
  • Stiglitz , Joseph E. and Weiss , Andrew . 1981 . Credit Rationing in Markets with Imperfect Information . American Economic Review , 71 (3) : 393 – 410 .
  • Wilson , William Julius . 1987 . The Truly Disadvantaged: The Inner City, the Underclass, and Public Policy , Chicago : University of Chicago Press .
  • Yezer , Anthony M. J. , Phillips , Robert F. and Trost , Robert P. 1994 . Bias in Estimates of Discrimination and Default in Mortgage Lending: The Effects of Simultaneity and Self‐Selection . Journal of Real Estate Finance and Economics , 9 (3) : 197 – 215 .
  • Yinger , John . 1987 . “ The Racial Dimension of Urban Housing Markets in the 1980s ” . In Divided Neighborhoods: Changing Patterns of Racial Segregation , Edited by: Tobin , Gary A. 43 – 67 . Beverly Hills : Sage .
  • Zinman , Jonathan . 2002 . The Efficacy and Efficiency of Credit Market Interventions: Evidence from the Community Reinvestment Act , Massachusetts Institute of Technology . Unpublished paper

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.