The housing crisis

With regard to Jerry Cutler’s letter in the Sept. 13 Acorn, which cites the Community Reinvestment Act of 1966 as being the genesis of our financial meltdown, I think he was referring to the Community Reinvestment Act of 1977.
That act was a federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods to reduce discriminatory credit practices against lo...

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