Re: Compare and contrast
If you insist on blaming the CRA, then you must explain why it only caused trouble from 2001 to 2008 even though it's been law since 1975 and remains in effect today.
easy.... when the act was passed in 75 by President Carter it had NO enforcement teeth. I.E. if the banks ignored the law (which they did) there were no penalties, no fines..... nothing happened to them.
President Clinton passed laws when he was in office that gave the CRA Enforcement Teeth... I.E. Fines and Penalties.....