That the legislation is coming 10 years after the worst credit crunch since the Great Depression has fueled passions around the debate.
Within days of the mass shooting at Marjory Stoneman Douglas High, a group of students had organized to advocate for change.
Reveal exposes modern-day redlining is occurring in at least 61 US cities. In Philadelphia, black applicants there were almost three times as likely to be denied a conventional home purchase loan as white applicants. And this discrimination isn’t just a few banks, nearly two-thirds of mortgage lenders are still discriminating against clients of color.
An analysis of 31 million mortgage records made available under the Home Mortgage Disclosure Act found 61 metro areas across America where people of color were denied conventional home purchase loans at significantly higher rates than whites.
The Community Reinvestment Act is worth strengthening to fight discrimination.
As regulators look to update the Community Reinvestment Act, they should better integrate online and mobile banking activity as part of exam performance.
Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts.
Millions of mortgage records analyzed by Reveal from The Center for Investigative Reporting show that the legacy of redlining persists.
Lawmakers should reject a dangerous bill — scheduled for a House vote this week — that could make it easier for payday lenders to flourish.