transparency

Texas Community Reinvestment Update 2007

Endnotes

[1] U.S. Small Business Administration, Office of Advocacy, "2006 Small Business Profile: Texas," p. 1, http://www.sba.gov/advo/research/profiles/06tx.pdf. (Last visited March 9, 2007.)
[2] E-mail communication from Karen Ranspot, information liaison, Property and Casualty Division, Texas Department of Insurance, December 11, 2006.
[3] E-mail communication from Matt Hull, Texas Association of Community Development Corporations to Ginger Lowry, Comptroller of Public Accounts, September 15, 2006.
[4] E-mail communication from Kurt Purdom, director of Strategic Support, Texas Department of Banking to Ginger Lowry, Comptroller of Public Accounts, October 6, 2006.
[5] E-mail communication from Jerald Ferguson and Micheal Lyttle, Texas Department of Housing and Community Affairs, September 18, 2006.
[6] Congress implemented the CRA (12 U.S.C. 2901) by Regulations 12 CFR parts 25, 228, 345 and 563e, known as Title VIII.
[7] Federal Reserve Board, "The Community Reinvestment Act: Its Evolution and New Challenges," Remarks by Chairman Ben S. Bernanke at the Community Affairs Research Conference, Washington, D.C., March 30, 2007, http://www.federalreserve.gov/Boarddocs/speeches/2007/20070330/default.htm.
[8] Jeffrey W. Gunther, "Between a Rock and a Hard Place: The CRA-Safety and Soundness Pinch," Economic and Financial Review, 1999, issue Q II, pp. 32-41.
[9] Federal Financial Institutions Examination Council, "History of HMDA," http://www.ffiec.gov/hmda/history2.htm. (Last visited March 9, 2007.)
[10] Office of Thrift Supervision, "Community Reinvestment Act-Interagency Uniformity," November 22, 2006, http://www.ots.treas.gov/docs/7/73327.pdf (Last visited March 9, 2007.)
[11] Governor Susan Schmidt Bies, Federal Reserve Board, Remarks at the American Bankers Association Chief Financial Officers Exchange Conference, Chicago, Illinois, June 5, 2005.
[12] Federal Deposit Insurance Corporation, "CRA Ratings-Frequently Asked Questions," http://www2.fdic.gov/crapes/crafaq_v4.asp (last visited March 13, 2007); and Federal Reserve Board, "Community Reinvestment Act," http://www.federalreserve.gov/dcca/cra/. (Last visited March 13, 2007.)
[13] Office of the Comptroller of the Currency, "Community Reinvestment Act Information," http://www.occ.treas.gov/crainfo.htm. (Last visited March 13, 2007.)
[14] Office of Thrift Supervision, "The History of the Community Reinvestment Act," http://www.ots.treas.gov/craexpl.html. (Last visited March 13, 2007.)
[15] Office of the Comptroller of the Currency, "2005 CRA Revisions: How Banks and Examiners are Implementing the New Rules," http://www.occ.gov/cdd/summer06/istheintermediate.html. (Last visited March 13, 2007.)
[16] "CRA, More Than a Numbers Game," Bank Director Magazine (4th Quarter 2005), http://www.bankdirector.com/issues/articles.pl?article_id=11738 (last visited March 13, 2007.)
[17] Office of the Comptroller of the Currency, "The New CRA Perspective for You and Your Bank," http://www.occ.treas.gov/crainfo.htm. (Last visited August 2, 2007.)
[18] American Bankers Association, "CRA Uniformity: Proposed Changes to OTS Community Reinvestment Act Regulations; 71 Federal Register 67826; November 24, 2006," January 23, 2007, http://www.aba.com/aba/documents/News/012307CRAletter.pdf. (Last visited July 25, 2007.)
[19] Office of the Comptroller of the Currency, "The New CRA Perspective for You and Your Bank," http://www.occ.treas.gov/crainfo.htm (Last visited August 2, 2007.)
[20] Office of the Comptroller of the Currency, "The New CRA Perspective for You and Your Bank," http://www.occ.treas.gov/crainfo.htm (Last visited August 2, 2007.)
[21] Federal Financial Institutions Examination Council, "Who Is Required to Report CRA Data?" http://www.ffiec.gov/cra/reporter.htm. (Last visited March 13, 2007.)
[22] Office of Thrift Supervision, "OTS Finalizes CRA Rule," Washington, D.C., August 12, 2004, http://www.ots.treas.gov/docs/7/77431.html. (Last visited July 25, 2007.)
[23] National Community Reinvestment Coalition Annual Conference, "Remarks by OTS Director John M. Reich," Washington, D.C., March 16, 2007, pp. 5-6; and e-mail communication from William Ruberry, Office of Thrift Supervision, April 17, 2007.
[24] U.S. Senate Committee on Banking, Housing & Urban Affairs, "Financial Services Modernization Act," November 1, 1999, http://banking.senate.gov/conf/grmleach.htm. (Last visited March 13, 2007.)
[25] Office of the Comptroller of the Currency, "CRA Sunshine: Disclosure and Reporting of CRA-Related Agreements," Washington, D.C., February 2001, p. 1, http://www.occ.treas.gov/ftp/bulletin/2001-11a.pdf. (Last visited March 13, 2007.)
[26] Federal Financial Institutions Examination Council, "History of HMDA," p. 3.
[27] Federal Reserve Board, "Press Release," December 29, 2006, http://www.federalreserve.gov/boarddocs/press/bcreg/2006/20061229/default.htmM. (Last visited March 14, 2007.)
[28] Texas Comptroller of Public Accounts, "Home Equity Lines of Credit Good Choice for Texans," September 10, 2003, http://www.window.state.tx.us/oped/30910helocoped.html. (Last visited March 13, 2007.)
[29] Texas Legislative Council, Research Division, "Recent Changes in Texas Home Equity Laws Give Homeowners More Choices," Austin, Texas, February 2004.
[30] Texas Comptroller of Public Accounts, "Special Report-Home Lending Gaps in Texas," March 2003, http://www.window.state.tx.us/specialrpt/homeeqty03/. (Last visited January 3, 2005.)
[31] Federal Reserve Board of San Francisco, FRBSF Economic Letter, San Francisco, California, June 25, 2004.
[32] Michael S. Barr, "Credit Where It Counts: The Community Reinvestment Act and Its Critics," New York University Law Review (May 13, 2005, p. 535.
[33] "CRA: More Than a Numbers Game," by Susan Lahey, Bank Director Magazine (4th Quarter 2005), http://www.bankdirector.com/issues/articles.pl?article_id=11738 (Last visited August 6, 2007.)
[34] U.S. Small Business Administration, Office of Advocacy, "Frequently Asked Questions," http://www.sba.gov/advo/stats/sbfaq.pdf. (Last visited March 19, 2007.)
[35] U.S. Small Business Administration, Office of Advocacy, "The Facts About State Regulatory Flexibility," http://www.sba.gov/advo/laws/factsmodel_leg.pdf. (Last visited March 19, 2007.)
[36] U.S. Small Business Administration, Office of Advocacy, "Frequently Asked Questions," http://www.sba.gov/advo/stats/sbfaq.pdf. (Last visited March 19, 2007.)
[37] U.S. Small Business Administration, Office of Advocacy, "The Small Business Economy, 2006," http://www.sba.gov/advo/research/sb_econ2006.pdf. (Last visited March 19, 2007.)
[38] U.S. Small Business Administration, Office of Advocacy, "Small Business and State Growth: An Econometric Investigation," by Donald Bruce et al, February 2007, http://www.sba.gov/advo/research/rs292tot.pdf. (Last visited April 29, 2007.)
[39] Federal Financial Institutions Examination Council, "Reports-Findings from Analysis of Nationwide Summary Statistics for 2005 Community Reinvestment Act Data Fact Sheet," Washington, D.C., July 2006, p.1.
[40] Federal Financial Institutions Examination Council, "Reports-Findings from Analysis of Nationwide Summary Statistics for 2005 Community Reinvestment Act Data Fact Sheet," p. 2.
[41] Federal Financial Institutions Examination Council, "Findings from Analysis of Nationwide Summary Statistics for 2005 Community Reinvestment Act Data Fact Sheet (July 2006)," http://www.ffiec.gov/hmcrpr/cra_fs05.htm.
[42] Federal Financial Institutions Examination Council, "Findings from Analysis of Nationwide Summary Statistics for 2005 Community Reinvestment Act Data Fact Sheet (July 2006)."
[43] The White House, "The President's Small Business Agenda: Helping Entrepreneurs Prosper", April 13, 2006, http://www.whitehouse.gov/infocus/smallbusiness/. (Last visited April 25, 2007.)
[44] U.S. Small Business Administration, Office of Advocacy, "Small Business Profile: Texas," 2006, http://sba.gov/advo/research/profiles/06tx.pdf. (Last visited March 20, 2007.)
[45] The National Venture Capital Association, "Fact Sheet," http://www.nvca.org/factsheet.html. (Last visited April 26, 2007.)
[46] Julie King, "Equity Financing: Understanding Venture Capital," Canadaone.com ezine (August 2000), http://www.canadaone.com/ezine/aug00/venture_capital.html, (Last visited August 2, 2007.)
[47] Business and Industry Data Center, "Overview of the Texas Economy," http://www.governor.state.tx.us/divisions/ecodev/bidc/overview/. (Last visited April 26, 2007.)
[48] Buffalo Business First, "Small-biz Loans up Due to Credit Cards," December 28, 2006, http://www.bizjournals.com/extraedge/washingtonbureau/archive/2006/12/25/bureau4.html (Last visited August 2, 2007.)
[49] U.S. Small Business Administration, Office of Advocacy, The Small Business Economy: A Report to the President (Washington, D.C., 2006), p. 2.
[50] Office of the Comptroller of the Currency, "2005 CRA Revisions: How Banks and Examiners are Implementing the New Rules," http://www.occ.treas.gov/cdd/summer06/newcrahelp.html. (Last visited April 2, 2007).
[51] E-mail communication from Jerald Ferguson, Office of Rural and Community Affairs, November 28, 2006.
[52] Governor Perry designated certain service areas that overlap the 29 counties eligible for the Federal Emergency Management Agency (FEMA) Public Assistance program.
[53] E-mail communication from Kurt Purdom, Texas Department of Banking, May 1, 2007.
[54] National Low Income Housing Coalition, "Housing as Economic Stimulus," http://www.nlihc.org/detail/article.cfm?article_id=2775&id=46, (Last visited August 2, 2007.)
[55] Texas Department of Housing and Community Affairs, Programs Overview, http://www.tdhca.state.tx.us/overview.htm (Last visited August 2, 2007.)
[56] E-mail communication from Matt Hull, policy analyst, Texas Association of Community Development Corporations, September 8, 2006.
[57] Jump$tart Coalition for Personal Financial Literacy, "Financial Literacy Shows Slight Improvement Among Nation's High School Students," April 5, 2006. (Press release,)
[58] Texas Department of Banking, Financial Education," http://www.banking.state.tx.us/dss/febrochure.pdf (Last visited August 2, 2007.)
[59] Texas Jump$tart Coalition for Personal Financial Literacy, "Annual Meeting & Financial Education Summit, Wednesday, September 21, 2005-Highlights from Program Content," http://209.85.165.104/search?q=cache:mVfmhoJiesIJ:www.txjumpstart.org/files/ACF5404.rtf+Texas+Jump%24tart+Coalition+for+Personal+Financial+Literacy+Annual+Meeting+%26+Financial+Education+Summit&hl=en&ct=clnk&cd=1&gl=us.
[60] E-mail communication from Michelle Davidson Ungurait, director of Social Studies, Texas Education Agency, April 3, 2007.
[61] Texas Credit Union Foundation News, "Free High School Financial Literacy Program Launch," March 29, 2007, http://www.tcuf.coop/news, (Last visited August 2, 2007.)
[62] Ford Foundation Report, "Lending a Hand," Fall 2004, http://www.fordfound.org/publications/ff_report/view_ff_report_detail.cfm?report_index=527. (Last visited May 2, 2007.)
[63] Real Estate Center, Texas A&M University, Jack C. Harris, "Dealing from the Bottom of the Deck," Tierra Grande (July 2004) p. 1, http://recenter.tamu.edu/tgrande/vol11-3/1684.html (Last visited August 2, 2007.)
[64] Pew Hispanic Center, "The Wealth of Hispanic Households: 1996 to 2002," October 18, 2004, http://pewhispanic.org/reports/report.php?ReportID=34. (Last visited April 9, 2007.)
[65] Lehman Brothers Equity Research, "Mortgage Finance Industry Overview," (December 22, 2006.)
[66] Office of Consumer Credit Commissioner, "Texas Response to Predatory Lending Practices," http://www.occc.state.tx.us/pages/agency/strat05/pred.html. (Last visited May 7, 2007.)
[67] Testimony of Josh Nassar, Center for Responsible Lending, before the House Subcommittee on Oversight and Government Reform, "Foreclosure, Predatory Mortgage and Payday Lending in America's Cities," March 21, 2007, p. 6.
[68] Fitch Rating Credit Policy, Structured Finance: U.S. Subprime RMBS in Structured Finance CDOs, p. 2, August 21, 2006.
[69] Center for American Progress, "Subprime Market Foreclosures by the Numbers," March 26, 2007. http://www.americanprogress.org/issues/2007/03/foreclosures_numbers.html. (Last visited April 9, 2007.)
[70] Sue Kirchhoff, "Fed Official Acknowledges More Should Have Been Done in Subprime Sector," USA Today (March 23, 2007).
[71] Les Christie, "Subprime Risk: Most Vulnerable Markets," Money, (March 22, 2007).
[72] Marilyn Geewax, "Mortgage Mess," Austin American-Statesman (April 8, 2007).
[73] Texas Department of Banking, "Online Financial Education Survey Results," http://www.banking.state.tx.us/dss/feresults.pdf. (Last visited May 3, 2007.)
[74] Telephone interview with Leilani Lim-Villegas, Texas Department of Banking, May 3, 2007.
[75] Office of the Texas Governor, Economic Development and Tourism Division, "Small Business Assistance," http://www.governor.state.tx.us/ecodev/sba.
[76] A Qualified Census Tract (QTC), under section 42(d)(5)(C) of the Internal Revenue Code, as amended by the Community Renewal Act of 2000, is any census tract or equal geographic area defined by the U.S. Bureau of the Census in which at least 50 percent of households have an income of less than 60 percent of the Area Median Gross Income (AMGI) or, where the poverty rate is at least 25 percent and where the census tract is designated as a Qualified Census Tract by the Secretary of Housing and Urban Development.
[77] Office of the Comptroller of the Currency, "National Banks Evaluated on the Basis of a Strategic Plan Under the Community Reinvestment Act," http://www.occ.treas.gov/crastrat.htm. (Last visited April 13, 2007.)
[78] Federal Financial Institutions Examination Council, "History of HMDA."
[79] Office of the Comptroller of the Currency, "HMDA Disclosure Requirements: What the Public Has the Right to See-and When," http://www.occ.treas.gov/cdd/newsletters/summer05/cd/hmdadisclosure.htm, (Last visited on August 2, 2007.)
[80] Federal Financial Institutions Examination Council, Community Reinvestment Act, Geocoding Information, New MSAs, http://www.ffiec.gov/cra/geocode.htm, (Last visited on August 2, 2007.)
[81] Bankers Online, "Oh, Look! More C: FRB Expands HMDA Coverage," http://64.233.187.104/search?q=cache:bp58Mny5cSwJ:www.bankersonline.com/articles/v07n01/v07n01a1.html+regulation+C+%2425+million+volume+test&hl=en, p. 1. 1. (Last visited January 11, 2005.)
[82] Federal Financial Institutions Examination Council, History of HMDA," Washington, D.C., http://www.ffiec.gov/hmda/history2.htm, (Last visited on August 2, 2007.)
[83] Texas Department of Housing and Community Affairs, "A Study of Residential Foreclosures in Texas," September 29, 2006, http://www.tdhca.state.tx.us/ppa/docs/hrc/06-HB1582Rpt-Foreclosures.pdf, (Last visited on August 2, 2007.)
[84] Texas Department of Housing and Community Affairs, Division of Policy and Public Affairs, "An Examination of Residential Foreclosures in Texas," Austin, Texas, September 29, 2006, p. 32.