Concerns about equal access to credit in the United States are longstanding. For the past several decades, many have argued that certain populations—primarily ethnic minorities, lower-income households, and those residing in neighborhoods with large numbers of ethnic minorities or lower-income households—have not had the same access to credit products as others. This, they argue, has impeded the ability of these populations and communities to maintain and improve their economic condition. In response to these concerns, the Congress passed several pieces of federal legislation, including the Home Mortgage Disclosure Act (HMDA) in 1975 and the Community Reinvestment Act (CRA) in 1977. The goal of this legislation was to help ensure that communities previously thought to have less access to credit markets than appropriate received access more in line with the quality of their credit.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Avery, Robert B., Patricia E. Beeson, and Paul S. Calem, “Using HMDA Data as a Regulatory Screen for Fair Lending Compliance,” Journal of Financial Services Research, April 1997.
Avery, Robert B., Raphael W. Bostic, Paul S. Calem, and Glenn B. Canner, “Credit Risk, Credit Scoring, and the Performance of Home Mortgages,” Federal Reserve Bulletin, July 1996.
Avery, Robert B., Raphael W. Bostic, Paul S. Calem, and Glenn B. Canner, “Changes in the Distribution of Banking Offices,” Federal Reserve Bulletin, September 1997.
Avery, Robert B., Raphael W. Bostic, Paul S. Calem, and Glenn B. Canner, “Trends in Home Purchase Lending: Consolidation and the Community Reinvestment Act,” Federal Reserve Bulletin, February 1999.
Benston, George J., “The Community Reinvestment Act: Looking for Discrimination That Isn’t There,” Cato Policy Analysis No. 354 (Washington, D.C.: The Cato Institute, October 6, 1999).
Berger, Allen N., Rebecca S. Demsetz, and Philip E. Strahan, “The Consolidation of the Financial Services Industry: Causes, Consequences, and Implications for the Future,” Journal of Banking and Finance, February 1999.
Blinder, Alan S., “Wage Discrimination: Reduced Form and Structural Estimates,” Journal of Human Resources, Fall 1973.
Bostic, Raphael W., “The Role of Race in Mortgage Lending: Revisiting the Boston Fed Study,” Finance and Economics Discussion Series No. 1997–2 (Washington, D.C.: Board of Governors of the Federal Reserve System, 1997).
Bostic, Raphael W. and Brian J. Surette, “Have the Doors Opened Wider? Trends in Family Homeownership Rates by Race and Income,” Working Paper, 1999.
Carr, James H. and Isaac F. Megbolugbe, “The Federal Reserve Bank of Boston Study on Mortgage Lending Revisited,” Journal of Housing Research, 1993.
Collins, William J. and Robert A. Margo, “Race and Home Ownership, 1900 to 1990,” NBER Working Paper Series No. W7277 (Cambridge, Massachusetts: National Bureau of Economic Research, 1999).
Courchane, Marsha and David Nickerson, “Discrimination Resulting from Overage Practices,” Journal of Financial Services Research, April 1997.
Day, Theodore E. and Stan J. Liebowitz, “Mortgage Lending to Minorities: Where’s the Bias?” Economic Inquiry, January 1998.
DiPasquale, Denise and Edward L. Glaeser, “Incentives and Social Capital: Are Homeowners Better Citizens?” Journal of Urban Economics, March 1999.
Duca, John V. and Stuart S. Rosenthal, “Borrower Constraints, Household Debt, and Racial Discrimination in Loan Markets,” Journal of Financial Intermediation, October 1993.
Evanoff, Douglas D. and Lewis M. Segal, “CRA and Fair Lending Regulations: Resulting Trends in Mortgage Lending,” Economic Perspectives, Federal Reserve Bank of Chicago, November–December 1996.
Evanoff, Douglas D. and Lewis M. Segal, “Strategic Responses to Bank Regulation: Evidence from HMDA Data,” Journal of Financial Services Research, April 1997.
Getter, Darryl E., “Has Financial Innovation Reduced Household Credit Constraints?” Working Paper, 1999.
Home, David K., “Mortgage Lending, Race, and Model Specification,” Journal of Financial Services Research, April 1997.
Hunter, William C. and Mary Beth Walker, “The Cultural Affinity Hypothesis and Mortgage Lending Decisions,” Journal of Real Estate Finance and Economics, July 1996.
Kennickell, Arthur B. and Martha Starr-McCluer, “Changes in Family Finances from 1989 to 1992,” Federal Reserve Bulletin, October 1994.
Kennickell, Arthur B., Martha Starr-McCluer, and Annika E. Sunden, “Family Finances in the U.S.: Recent Evidence from the Survey of Consumer Finances, Federal Reserve Bulletin, January 1997.
Long, James E. and Steven B. Caudill, “Racial Differences in Homeownership and Housing Wealth, 1970–1986,” Economic Inquiry, January 1992.
Munnell, Alicia, Geoffrey M. B. Tootell, Lynn E. Browne, and James McEneaney, “Mortgage Lending in Boston: Interpreting HMDA Data,” American Economic Review, March 1996.
Oaxaca, Ronald, “Male-Female Wage Differentials in Urban Labor Markets,” International Economic Review, October 1973.
Oliver, Melvin L. and Thomas M. Shapiro, Black Wealth/White Wealth: A New Perspective on Racial Equality (New York: Routledge, 1995).
Ross, Stephen and Geoffrey M. B. Tootell, “Red Lining, the Community Reinvestment Act, and Private Mortgage Insurance,” Working Paper, 1998.
Segal, Lewis M. and Daniel G. Sullivan, “Trends in Homeownership: Race, Demographics, and Income,” Economic Perspectives, Federal Reserve Bank of Chicago, Second Quarter 1998.
Turner, Margery Austin and Felicity Skidmore (eds.), Mortgage Lending Discrimination: A Review of Existing Evidence (Washington, D.C.: Urban Institute Press, 1999).
United States General Accounting Office, Fair Lending: Federal Oversight and Enforcement Improved but Some Challenges Remain, GAO Report, GGD-96-145 (Washington, D.C.: United States General Accounting Office, August 1996).
Yezer, Anthony M. (ed.) Fair Lending Analysis: A Compendium of Essays on the Use of Statistics (Washington, D.C.: American Bankers Association, 1995).
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2002 Springer Science+Business Media New York
About this chapter
Cite this chapter
Bostic, R.W. (2002). Trends in Equal Access to Credit Products. In: Durkin, T.A., Staten, M.E. (eds) The Impact of Public Policy on Consumer Credit. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-1415-2_7
Download citation
DOI: https://doi.org/10.1007/978-1-4615-1415-2_7
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-5542-7
Online ISBN: 978-1-4615-1415-2
eBook Packages: Springer Book Archive