[raybbr]

I used to work for a bank, doing reports for Feds. Salary and job ranking was reported by categories - Gender, race ,age. There was no law demanding that 10 percent of employees be black, or that women made the same money. But you can bet when the CEO’s reviewed these reports, they changed policy. You know the Feds were going to read them. No law required.

I don't buy it. If CEO's wanted to do something in the '80s they did it. People around here, and including Limbaugh, are claiming that Congress passed laws. I have yet to see evidence. I really would like to see the law.

[PA-RIVER]

If Fed collects your data, and Banks are federaly regulated feeding them reports, you can be arm twisted with threats of new law and enforcement of old laws.

If a mayor starts threatening to fine people for Pink flamingos on their front yard, people with pink flamingos (and a new shed in the back yard that went in without a permit) get their pink flamingo off the front yard.

In the late 90’s, red-lining was the cause of the day in congress ... and arm twisting was in full throttle.

[businessprofessor]

In 1977, Congress passed the Community Reinvestment Act (CRA) that requires banks and thrifts to offer credit throughout their entire market area. The purpose of the CRA is to provide credit, including home ownership opportunities to underserved populations and commercial loans to small businesses. The implementing regulations of the CRA has been revised several times by the Federal Deposit Insurance Corporation (FDIC) at the behest of Democrat and Republican administrations. Some people have blamed the CRA for the subprime debacle although I think the blame can be spread to many parties.

The Federal Reserve does not directly set mortgage interest rates although Fed policies can influence the rates. In the short run, mortgage interest rates do not seem related to Fed policies.