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Dugan: CRA Had Nothing to Do with Mortgage, Credit Mess

Nov 20, 2008By

Comptroller of the Currency John Dugan on Wednesday said he disagrees with suggestions that the Community Reinvestment Act is responsible for the ongoing credit crisis. “CRA is not the culprit behind the subprime mortgage lending abuses, or the broader credit quality issues in the marketplace,” Dugan said in a speech at the Enterprise Annual Network Conference on Tuesday afternoon.