Flat out wrong and ludicrously ignorantly so.

There are numerous examples on record of “Community Redevelopment Agencies” threatening banks with various sanctions — legal action, widely advertized protests, even open protests outside branches — with various claims of “racism”, etc., if they did not increase the number of “bad” loans to unworthy recipients.

There are also readily locatable public statements in various media that the Clinton-era JD was willing to consider prosecution of same.

No, it’s not putting a gun to your head, but the management of any business that thinks it can ignore charges of “racists!!” these days is not long for the business world.

As a result, many banks were forced to lower their standards as a clearly prudent (at the time) response to such blatant extortion.

Then **other** organizations got involved and it became a systemic failure as they tried to spread the risk, all the while not doing anything to prevent increasing the total amount of it in the system.