ACORN discussion - can we move this into one thread?

[kg_veteran]

Originally Posted by Mavdog

the quote from kurtz, that you posted, said "Using provisions of a 1977 law called the Community Reinvestment Act (CRA), Chicago ACORN was able to delay and halt the efforts of banks to merge or expand until they had agreed to lower their credit standards".

Right. How did you turn that into me saying that "the cra mandates that banks lend to unqualified borrowers"? Because I never said that.

the links merely say that acorn did what they allege, and they offer no evidence that banks were forced to lend to unqualified borrowers.

the cra mandates that lenders keep records on loan applications, who was approved and who was denied. any bank that follows prudent lending guidelines for approving and denying loans is in compliance. there is no requirement to change any bank's standards to comply with cra.

acorn pushed to increase lending to lower income and minority borrowers, it was up to the lender to determine which loans were of the amount and quality of borrower to fund.

Do you acknowledge that there is a difference between a statute requiring/forcing/mandating something and ACORN pressuring/intimidating/coercing banks using the threat of regulatory complaints?