Banks are required to lend in low- and moderate-income communities only if they have a branch in the area that takes deposits.
As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
Members of the U.S. House Financial Services Committee ask Jerome H. Powell how he plans to address disparities in lending between whites and others.
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The treasurer and attorney general said they would probe possible discrimination in mortgage lending. The Philadelphia City Council plans hearings.
At the national and state levels, they vow to ensure people of color get equal access to home loans and the public gets access to lending information.
In dozens of cities across the country, lenders are more likely to deny loans to applicants of color than white ones.
A 1977 law, designed to correct redlining, didn’t anticipate a day when historically black neighborhoods would be sought by young white homebuyers.
Reveal analyzed publicly available data released through the Home Mortgage Disclosure Act, combing through 31 million records for 2015 and 2016.
Among the 6,600 U.S. lenders, some stood out for particularly extreme practices.
Reveal’s analysis of mortgage data found evidence of modern-day redlining in 61 metro areas across the country.