FDIC’s Bair Sets to Shatter CRA Myth

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FDIC’s Bair Sets to Shatter CRA "Myth" December 5, 2008. Kelly Curran. keywords america bank chairman community reinvestment Act FDIC Federal Deposit insurance corp finance government policies and.

Congress and the administration also need to mend their ways and start reining in the federal budget deficit, FDIC Chairman Sheila Bair said at a securities industry conference in New York Wednesday.

Last week Bloomberg published the transcript from an interview with Federal Deposit Insurance Corp. Chairman Sheila Bair where she talks about why IndyMac’s high-risk lending and mortgage losses make it "unattractive". Bair believes the high risk loans will force the agency to strengthen the firm and find a buyer.

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Nowhere." The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices. > Read the full item at Housing Wire. > Source: FDIC’s Bair Sets to Shatter CRA "Myth" By KELLY CURRAN.

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Nowhere.’ The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices." (FDIC’s Bair Sets to Shatter CRA "Myth", by Kelly Curran, HousingWire.com, December 5, 2008.)

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