Quote – Michelle Minton, Competitive Enterprise Institute

The CRA has created opportunities for rent seeking and financial and logistical burdens for all lenders. The Act forces lenders to spend money, time, and resources on documentation, PR, and other compliance costs.

Michelle Minton, “The Community Reinvestment Act’s Harmful Legacy: How It Hampers Access to Credit”, Competitive Enterprise Institute paper no.132.

Thursday, March 20, 2008