THIS IS OLD NEWS BUT IT'S WORTH REPEATING

The formal investigation of the causes of the Great Recession made a report in 2011, Financial Crisis Inquiry Report.  In it, the conservative myth that the CRA was to blame is again debunked (p. xxvii):

The Commission concludes the CRA was not a significant factor in subprime lending or the crisis. Many subprime lenders were not subject to the CRA. Research indicates only 6% of high-cost loans—a proxy for subprime loans—had any connection to the law. Loans made by CRA-regulated lenders in the neighborhoods in which they were required to lend were half as likely to default as similar loans made in the same neighborhoods by independent mortgage originators not subject to the law.