Rudy Canoza wrote:
On 5/30/2015 5:46 AM, "jim " wrote:
Rudy Canoza wrote:
Rudy Canoza wrote:
That's simply a lie.

Corrupt bankers call it a lie.
Honest bankers call it the truth.

No one called it the truth. It's a lie. You're the only person who has
every said it.

If you want to tell an honest
banker from a corrupt banker just
ask about the Community Reinvestment Act.

Ha ha ha ha ha!

That is really the reason Sen William Proxmire
introduced and got the Community Reinvestment Act
passed by Congress.

The only thing the law requires is for bank
regulators to determine the extent to which each
deposit facility is lending back to the same
community that supply the deposits.

Why is it important for regulators to make
this determination? Because that's how
you tell the honest bankers from the corrupt ones.


There is nothing new in the concept that
banks must meet the credit needs
of the community that supplies the deposits.

Stop lying. Communities don't supply deposits - account holders do, and
the mere fact they deposit money doesn't entitle them to mortgage loans.

You are the one who keeps lying.
There is nothing in the CRA statute
that entitles anyone to a loan.

Credit Unions make loans only to their depositors.
But that doesn't mean any particular depositor is
entitled to a loan.

Studies have shown that mortgage loans
made by deposit facilities during the
housing bubble inside their service area
performed better than loans made outside
the area.