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Redlining is a discriminatory practice in which financial services are withheld from neighborhoods that have significant numbers of racial and ethnic minorities. [2] Redlining has been most prominent in the United States, and has mostly been directed against African Americans, as well as Mexican Americans in the Southwest. [3]
Assistant Attorney General Kristen Clarke said combating redlining “is one of the most important strategies for ensuring equal economic opportunity today.” Ameris Bank will invest $7.5 million ...
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
The bank had been accused of steering clear of higher crime neighborhoods and favoring whites in granting loans and mortgages, finding that, of the approximately 1,900 mortgages made in 2014, only 25 went to black applicants. The banks' executives denied bias, and the settlement came with adjustments to the banks' business practices.
NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the The post Anti-discriminatory bank law getting update to address harm of redlining ...
We know all too well the systemic roadblocks people of color, and particularly Black Americans, face in realizing the dream of homeownership. | Op-ed by T’wina Nobles and Maureen Fife
Mortgage discrimination or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion.
Opinion: Black home buyers still experience discrimination in the housing market due to segregation and racist restrictions of the past.