Lending in Low- and Moderate-Income Neighborhoods in California: The Performance of CRA Lending During the Subprime Meltdown


Elizabeth Laderman and Carolina Reid, Federal Reserve Bank of San Francisco

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November 1, 2008

The current scale of mortgage delinquencies and foreclosures—particularly in the subprime market—has sparked a renewed debate over the Community Reinvestment Act (CRA) and the regulations governing home mortgage lending.