Bernanke: ‘Bad’ lending a long-term challenge

WASHINGTON – Low-income neighborhoods once cut off from credit are finding “bad” lending may be worse than none at all, according to Federal Reserve Chairman Ben S. Bernanke, Bloomberg News reports. “Recent problems in mortgage markets illustrate that an underlying assumption of the [1977 Community Reinvestment Act of 1977] – that more lending equals better…

Want More?

Subscribe or register with Providence Business News to keep reading.

for 2 more stories

Subscribe now for $1 for 4 weeks
Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -