Hooda, redlining was a huge problem in banking
until the Community Reinvestment Act and other measures cracked down. Of course CRA primarily said that if you take deposits in a community, you better makes loans or otherwise invest there.
Of course one way to get around that if it is economically onerous is simply close your branches in that community.
Frankly one of the leading causes of economic differences between whites and blacks in general was discriminatory lending practices in the post WWII era, really into the 80's.
|
(
In response to this post by Hoodafan)
Posted: 09/06/2016 at 8:30PM