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Community Reinvestment Act – Senator Bachmann Blames Clinton and Minorities For The Economic Crisis

The Community Reinvestment Act which was first introduced in 1977 and upgraded by former President Bill Clinton in 1995 encouraged Fannie Mae “to enable mortgage companies, savings and loans, commercial banks, credit unions, and state and local housing finance agencies to lend money to home buyers. It also encouraged the Federal Home Loan Mortgage Corporation, [...]

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