Banks are required to lend in low- and moderate-income communities only if they have a branch in the area that takes deposits.
Category: Kept Out
Posted inInequality, Kept Out
State attorneys general probe lending disparities
As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
Posted inHousing, Inequality, Kept Out
Congress grills new Federal Reserve chairman on redlining
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.
Posted inKept Out
How a gaping loophole in a landmark law is fueling gentrification
Financial institutions are fueling gentrification in low-income neighborhoods while getting credit for helping the poor.
Posted inKept Out
Is this the new redlining? How people of color are being shut out of buying homes
Black and Latino applicants across the country are being rejected for mortgages at much higher rates than whites, and their race seems to play a role.
Posted inHousing, Inequality, Kept Out
3 investigations opened after Reveal uncovers redlining in Philly
The treasurer and attorney general said they would probe possible discrimination in mortgage lending. The Philadelphia City Council plans hearings.
Posted inHousing, Inequality, Kept Out
Politicians express outrage about lending disparities
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.
Posted inKept Out
A Stacked Deck: A visual look at discriminatory lending in the U.S.
People of color continue to be denied conventional mortgage loans at rates far higher than their white counterparts.
Posted inKept Out
https://d1m3w2qdkx2ozg.cloudfront.net/407TheRedLine_%20RacialDisparitiesInLending_256.mp3
The red line: Racial disparities in lending
In dozens of cities across the country, lenders are more likely to deny loans to applicants of color than white ones.
Posted inKept Out
Gentrification became low-income lending law’s unintended consequence
A 1977 law, designed to correct redlining, didn’t anticipate a day when historically black neighborhoods would be sought by young white homebuyers.