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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 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.
Racial bias, [4] discrimination against prospective employees, [5] discrimination against medical and student debt holders, [6] poor risk predictability, manipulation of credit scoring algorithms, [7] inaccurate reports, [8] and overall immorality are some of the concerns raised regarding the system.
Warren Buffett's mortgage company Berkshire Hathaway reached a $20 million settlement after being faced with a redlining lawsuit against Black homebuyers.
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.