In Defense of the Community Reinvestment Act (Record no. 39831)

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fixed length control field 02408nab a22002177a 4500
003 - CONTROL NUMBER IDENTIFIER
control field NY
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20200615104006.0
007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION
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040 ## - CATALOGING SOURCE
Transcribing agency NY
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Littrell, Jill.
245 10 - TITLE STATEMENT
Title In Defense of the Community Reinvestment Act
Medium [electronic resource] /
Statement of responsibility, etc Jill Littrell &Fred Brooks.
300 ## - PHYSICAL DESCRIPTION
Extent pp. 417-439.
520 ## - SUMMARY, ETC.
Summary, etc In the wake of the 2008 global financial crisis, the Community Reinvestment Act (CRA) of 1977 has probably received more media attention in the past 2 years than it garnered cumulatively over the previous 30 years. Numerous conservative pundits and commentators have blamed the CRA for the subprime crisis and the subsequent worldwide financial meltdown. Most social workers are probably unaware that the CRA is probably responsible for more investment, loans, and wealth creation in low and moderate income neighborhoods than any other single piece of federal legislation over the past 40 years. This article highlights the following features about the CRA that social workers need to know: The CRA was created and passed only because of grassroots community organizing; the CRA has been directly or indirectly related to 8 trillion dollars of investments, mortgage, and small business loans in low income neighborhoods since 1977; community organizing has always been the primary enforcement mechanism of the CRA; contrary to widespread right-wing media accounts, the CRA was not responsible for the housing bubble and worldwide financial crisis in 2008. In this article, we articulate the veridical factors contributing to the financial collapse. Presently, Congress is debating reforms for the financial sector, and the way banking functions will be transacted in the future remains unclear. Regardless of the eventual restructuring of finance, moving forward, social workers should continue to advocate for legislation that will ensure housing for low and moderate income people.
538 ## - SYSTEM DETAILS NOTE
System details note Mode of access: Internet.
653 ## - INDEX TERM--UNCONTROLLED
Uncontrolled term affordable housing, housing advocacy, Community Reinvestment Act, subprime lending crisis
700 1# - ADDED ENTRY--PERSONAL NAME
Personal name Brooks, Fred.
773 0# - HOST ITEM ENTRY
Title Journal of community practice
Relationship information 2010, Vol. 18, No. 4
International Standard Serial Number 1070-5422
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier http://ezproxy01.ny.edu.hk:2048/login?url=http://dx.doi.org/10.1080/10705422.2010.519211
Public note Click here to access full-text article
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Source of classification or shelving scheme
Koha item type E-Article

No items available.

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