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Originally Posted by Mavdog
there is nothing, absolutely nothing, in the cra that mandates that banks lend to unqualified borrowers.
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I never said that, and you know it.
You said, "did acorn threaten lawsuits if the bank would not lend to unquaified borrowers? that is the argument that you appear to make, and it is not supported by any facts. if you could produce any backup to support your assertion, let's see it."
In response, I produced the various quotes and links above demonstrating that ACORN threatened to file regulatory complaints against banks that would have effectively delayed attempts by those banks to merge or expand
unless those banks would comply with ACORN's demands to reduce their credit standards and/or pay them consulting fees.
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still no evidence that the cra mandated banks to make loans to unquaified borrowers.
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Which, of course, is not what I said.
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unless, of course, your position is that all minority and all lower income borrowers are unqualified?
well, are you?
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No, my position is that ACORN pressured banks into lower their credit standards by threatening to file regulatory complaints using provisions of the CRA, as demonstrated by the links and quotes I provided.
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no, the evidence you provide shows that acorn "intimidated banks" into making more loans to minority and lower income borrowers.
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Actually, it shows that ACORN intimidated banks into reducing their credit standards, thereby making loans to borrowers who otherwise would have been unqualified.
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acorn did not pressure the banks to lower the standards
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Yes they did. Read the links that I provided, or provide your own which refute them.