American Banker, April 6, 2023, FDIC To Take A Closer Look At Property Appraisal Bias
“Since the release of the action plan one year ago, FDIC staff have been closely coordinating and collaborating with staff from other PAVE member agencies to fulfill the PAVE action plan’s commitments and recommendations,” Gruenberg said. “These efforts are helping to shift the public’s understanding of appraisal bias from a rare event affecting an occasional homeowner to a significant issue that affects wealth formation and opportunities in minority communities nationwide — the same communities that have suffered historically from discrimination, redlining, and disinvestment.”
