Investopedia: The History of Lending Discrimination

Investopedia, February 19, 2022, The History of Lending Discrimination

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Laws today protect borrowers from discriminatory lending

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 practices, but that wasn’t always the case. For decades U.S. banks denied mortgages to Black families—and those belonging to other racial and ethnic minority groups—who lived in certain areas “redlined” by a federal government agency called the Home Owners’ Loan Corporation (HOLC).

The immediate effect of redlining was that residents in racial and ethnic minority neighborhoods couldn’t access capital to improve the residents’ housing (to buy or renovate) and economic opportunities. Of course, the impacts of redlining didn’t magically end when the FHA was passed in 1968. Instead, as a 2018 study by the National Community Reinvestment Coalition (NCRC) shows, the economic and racial segregation created by redlining persists in many cities today.

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