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Oregon Business: Withdrawn – Banks have closed thousands of branches in the last two years, many in rural communities. Small-business owners say they’re being left in the lurch.

Oregon Business, March 31, 2022, Withdrawn – Banks have closed thousands of branches in the last two years, many in rural communities. Small-business owners say they’re being left in the lurch.

Nyssa is not alone: According to a study by the National Community Reinvestment Coalition, more than 4,000 bank branches have closed in the United States since March 2020. According to Rural Development Initiatives, 32% of rural counties do not have a local bank.

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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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