Housing Wire: Senate’s passage of Dodd-Frank reform: Needed relief or the beginning of the end?

Housing Wire, March 15, 2018: Senate’s passage of Dodd-Frank reform: Needed relief or the beginning of the end?

Some experts claim this bill, the Economic Growth, Regulatory Relief and Consumer Protection Act, will bring common sense regulatory relief.

But the National Community Reinvestment Coalition, which works with community leaders, policymakers and financial institutions to champion fairness in banking, housing and business, cautioned strongly against the bill.

“The Congressional Budget Office has already reported that this bill increases the risk of bank bailouts and provides relief for banks already bailed out in the Great Recession,” said NCRC President and CEO John Taylor. “I am afraid allowing financial institutions to circumvent rules with this new bill is an open invitation to the banks to resume their risky business. That will create new risks for borrowers and our entire financial system.”

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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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