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Unformatted text preview: and HMDA data. The Federal Reserve and
other regulators also rate bank compliance. For example, in 2000 the Federal Reserve judged 17.2 percent of the
banks examined to be outstanding in CRA compliance, 79.7 percent as satisfactory, 2.3 percent as needing to improve, and 0.8 percent as being in noncompliance. sau86198_ch01.qxd 4/21/02 8:52 PM Page 15 Chapter 1 Why Are Financial Intermediaries Special? 15 are imposing a considerable net regulatory burden on FIs without providing offsetting
social benefits that enhance equal access to mortgage and lending markets. However,
as deregulation proceeds and the trend toward consolidation and universal banking
(see Chapter 2) continues, it is likely that such laws will be extended beyond banks to
other financial service providers, such as insurance companies, that are not currently
subject to CRA community lending requirements. Investor Protection Regulation
A considerable number of laws protect investors who use investment banks directly to
purchase securities and/or indirectly to access securities markets th...
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This document was uploaded on 03/09/2014 for the course ACC 301 at HELP University.
- Spring '09