Rudy Canoza wrote:
CRA forces banks to make loans that are not as profitable.

The evidence shows the opposite is true.
Honest bankers lend locally and do better.
Corrupt bankers make less profit because they
are benefiting indirectly from their lending
patterns.

reduced return on deposit balances.
The evidence shows the opposite is true.


Banks don't make loans. Banks create new
money and give it to people who promise to
pay it back. Banks call this a loan.
The public gives them this privilege to
create money from nothing.

If the public gave me the privilege to create
money which I then collect interest on, it
seems only reasonable to do something for
the public in return.