For years... we ALL had to meet Financial Responsibility requirements to get financed and it was a long arduous process at that too, MRZ! I agree with with you.
Here's where I give some credence to saawshank, though...
The FHA act of 1968 really took a bite out of the banks power to use proper risk assessment procedures, especially after Barny Fife (Frank) took over. To make matters worse... it forced non-CRA member banks nearly into bankruptcy... except for a few much smaller local and regional ones.
When the floodgates opened up... neighborhood footprints changed nearly overnight!
It wasn't a fluke or misguided policy... it was planned and per-ordained!
"WE BELIEVE IN AMERICA!"
ROMNEY / RYAN in 2012