CUInsight: CFPB to host symposium on November 6

CUInsight, October 24, 2019: CFPB to Host Symposium on November 6

The Consumer Financial Protection Bureau (Bureau) announced that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019, at 9:30 a.m. The event will be webcast on the Bureau’s website.

Section 1071 amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect, report and make public certain information concerning credit applications made by women-owned, minority-owned and small businesses. The symposium will provide a public forum for the Bureau and the public to hear various perspectives on the small business lending marketplace and the Bureau’s upcoming implementation of Section 1071.

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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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