1993
lPresident Clinton
ordered new regulations for the CRA to increase access to mortgage credit
for
inner city and distressed rural communities.
lThe new rules featured:
lstrictly numerical assessments to get a
satisfactory CRA rating using federal home-loan data broken down by neighborhood,
income group, and race
lencouraging community
groups (e.g., Acorn) to complain when banks were
not loaning enough to specified neighborhood, income group, and race and allowing these groups to
collect a fee from the banks for marketing these mortgages (as of 2000 $9.5 billion had been paid to such groups).