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Did the Community Reinforcement Act of 1977 force banks to give people loans that could not afford them?
Wiki User
∙ 11y ago
yes
Wiki User
∙ 11y ago
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How many people work at banks?
The number of people working at banks can vary greatly depending on the size and type of bank. Larger banks can employ thousands of people, while smaller community banks may have a few dozen employees. Overall, banks employ millions of people worldwide.
What causes bank failure?
banks that lent money to people with little or no credit and then those people cant afford what was purchased. then they file bankrupt. that's one way
What services are provided by community banks?
There are many services provided by community banks. Community banks offer loans, credit cards, ATM, debit cards, competitive rates, internet banking security, and many other services.
What are the benefits of investing with a local bank rather than an Internet bank?
Internet banks tend to offer higher interest rates then local banks but local banks give back to you community more and offer you more access to your funds. They make loans to you and your neighbors and local businesses. They pay property taxes and income taxes in your state. They also give back to you community through donations to community projects. They also provide jobs to people in your community.
Do people take advantage of food banks?
It is true that some people use food banks even when they can afford to feed themselves. But, the line between the "haves" and the "have nots" becomes more and more blurred everyday. Add to this the fact that most people can follow directions on a box, but they don't know how to really cook.
How can dealerships afford to offer loans to people with bad credit when banks can not?
Dealerships can afford to offer loans to people with bad credit because they require a larger down payment and give a higher finance rate but in turn give the customers smaller payment amounts to pay each month.
How can banks afford to pay interest on money held in savings accounts?
Magic elves
What is a people's bank and how does it differ from a regular bank?
When a bank is referred to as a "people's bank" it is usually a marketing term that references the bank's ties to the community. There are actually a number of regional banks called Peoples Bank and it's just another type of community bank that does not differ from most other banks. The only exception is that a community bank could be more inclined to offer small business loans. People's Bank is not different than a regular bank. They have location's & ATM's just like other banks. They claim to have real performance and solutions. They do have higher interests rates to start of with.
What does Community Savings offer to customers?
Community Savings are effectively not-for-profit banks. They offer savings and loans to members of the community who are keen to help their neighbours who may have poor credit ratings. Obviously the more people that invest the more money they are able to loan.
What are the names of some community banks?
There are lots of Community Banks around, such as 1st Mariner Bank, Pinnacle Bank (GA), Westbury Bank, FirstBank, Flushing Bank, BankUnited, IberiaBank, and more.
What has tyra banks given back to her community?
i really dont know
Why did banks seem to always be built on corners?
Because they are the only companies that can afford such high rents - best spot on the street - much better suited for cafes / restaurants and people watching. Its such a shame
