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City Biz: Baltimore Community Lending Raises $3 Million From PNC

City Biz, October 7, 2022, Baltimore Community Lending Raises $3 Million From PNC

PNC Bank, whose parent company is PNC Financial Services Group(NYSE: PNC), took a big step toward increased community lending in 2021, when it pledged $88 billion over a four-year period for a Community Benefits Plan in partnership with the National Community Reinvestment Coalition. The nationwide program will provide varied financial support to help low- and moderate-income people and neighborhoods, as well as people and communities of color, rebuild their livelihoods.

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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

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