Congressman Dennis Kucinich: Upholding the Spirit of the CRA: Do CRA Ratings Accurately Reflect Bank Practices?
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FOR IMMEDIATE RELEASE
OCTOBER 23, 2007
9:53 AM
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CONTACT: Congressman Dennis Kucinich
Natalie Laber
202-225-5871
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Upholding the Spirit of the CRA: Do CRA Ratings Accurately Reflect Bank Practices?
Domestic Policy Subcommittee Hearing
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WASHINGTON, DC - October 23 - This hearing will expose and explain how Community Reinvestment Act
(CRA) exams may not reflect discriminatory practices by regulated
banks, including the problems associated with regulatory discretion and
new bank structures that were prohibited when Congress enacted the CRA.
It will also analyze the detrimental affect of non-disclosure of fair
lending exams on community participation and CRA enforcement.
Wednesday, October 24, 2007 2 p.m.2154 RayburnWashington, DC 20515The hearing will be webcast LIVE!To view the hearing Click Here
Presently, 98% of banks receive a satisfactory or outstanding rating on their CRA exams. Yet evidence of discrimination in lending and other bank practices persists, including a number of Department of Justice prosecutions of banks receiving high CRA ratings. This hearing will explore that coincidence.
This is the third in a series of hearings on subprime lending and the banking industry.
Witnesses for the hearing include:
Panel I
• Ms. Sandra Thompson, Director, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation
• Ms. Sandra Braunstein, Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System
• Ms. Montrice Yakimov, Managing Director for Compliance and Consumer Protection, Office of Thrift Supervision
• Ms. Ann Jaedicke, Deputy Comptroller for Compliance Policy, Comptroller of the Currency
Panel II
• Mr. Calvin Bradford, Board Member, National Training and Information Center
• Mr. James Carr, Chief Operating Officer, National Community Reinvestment Coalition
• Mr. Richard Marsico, Professor of Law, New York Law School, Director, Justice Action Center
• Mr. Irvin Henderson, President, Irvin M. Henderson & Company
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