danimmer at woodstockinst
04-06-2000, 02:30 PM
Jennifer,
Your colleague sounds like he may have made up his mind already, but the
most comprehensive
review I have seen of CRA-related literature will be out imminently from
Brookings's Center on Urban
and Metropolitan Policy. (http://www.brookings.org/es/urban/urban.htm).
It covers more than your
friend's question.
Dan Immergluck
Jennifer Freeman wrote:
Yes, I mean this to be provocative and I seek your help. I work in a
very large commercial bank in New
York (in the CRA compliance, small business lending reporting area).
Today I had a conversation with a
colleague in the department who argued the following point:
There is no hard empirical data that definitively shows that
communities are better off due to banks’ CRA
lending than had CRA not been in effect.
Of course I opposed this stance, but am not sure my voice was heard.
Could anyone please tell me
where I can find such a report that will clearly prove that CRA has
positively affected communities? I
would like to be more knowledgeable in future conversations and help
to educate them on these facts. It
seems to me that my department is precisely the group of people in the
bank that needs to know just
how much our CRA lending really IS affecting communities.
There seems to be a sense of “mandate” in our group – that we do our
jobs (crank the numbers, put
together pretty reports) for the sole purpose of maintaining our high
CRA rating – but what this
really means, seems to have been lost behind the spreadsheets. It
should not be so.
Thank you in advance for any referenced material.
JF
--
Dan Immergluck
Senior Vice President
Woodstock Institute
407 S. Dearborn, Suite 550
Chicago, IL 60605
312-427-8070 / 312-427-4007 fax
This post transferred from the cdb-l mailing list
Your colleague sounds like he may have made up his mind already, but the
most comprehensive
review I have seen of CRA-related literature will be out imminently from
Brookings's Center on Urban
and Metropolitan Policy. (http://www.brookings.org/es/urban/urban.htm).
It covers more than your
friend's question.
Dan Immergluck
Jennifer Freeman wrote:
Yes, I mean this to be provocative and I seek your help. I work in a
very large commercial bank in New
York (in the CRA compliance, small business lending reporting area).
Today I had a conversation with a
colleague in the department who argued the following point:
There is no hard empirical data that definitively shows that
communities are better off due to banks’ CRA
lending than had CRA not been in effect.
Of course I opposed this stance, but am not sure my voice was heard.
Could anyone please tell me
where I can find such a report that will clearly prove that CRA has
positively affected communities? I
would like to be more knowledgeable in future conversations and help
to educate them on these facts. It
seems to me that my department is precisely the group of people in the
bank that needs to know just
how much our CRA lending really IS affecting communities.
There seems to be a sense of “mandate” in our group – that we do our
jobs (crank the numbers, put
together pretty reports) for the sole purpose of maintaining our high
CRA rating – but what this
really means, seems to have been lost behind the spreadsheets. It
should not be so.
Thank you in advance for any referenced material.
JF
--
Dan Immergluck
Senior Vice President
Woodstock Institute
407 S. Dearborn, Suite 550
Chicago, IL 60605
312-427-8070 / 312-427-4007 fax
This post transferred from the cdb-l mailing list