Tag Archives: HMDA

In the market-driven economy of today, quid-pro-quo is often (if not entirely) the modus operandi. Unfortunately, not all transactions are fair in that the “benefit” one party receives is in fact harmful to them either immediately or over time. In drafting and eventually passing the Community Reinvestment Act of 1977, the United States Congress set the American people on the fast-track to homeownership by strong-arming banks into offering home mortgages to minorities and low-income groups. Questions of legitimacy, a false sense of security and a dubious backhanded attempt at further controlling the American people come into question in addition to whether or not homeownership is a ‘right.’ Continue reading →