WFAA: America’s top banking regulator: WFAA’s ‘Banking Below 30’ investigation documenting unfair treatment of minorities ‘very troubling’

WFAA, July 15, 2021, America’s top banking regulator: WFAA’s ‘Banking Below 30’ investigation documenting unfair treatment of minorities ‘very troubling’

The chairman of the Federal Reserve acknowledged WFAA’s “Banking Below 30” series in a congressional hearing this week, saying he was troubled by our investigation showing how for years, banks have refused to lend money in low-income minority communities in Southern Dallas in violation of federal law.

In May, speaking at a National Community Reinvestment Coalition conference, Powell said “we will only reach our full potential when everyone can contribute to and share in the benefits of prosperity.”

Print Friendly, PDF & Email

Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: