The Center for Public Integrity, May 27, 2022, Rethinking what fair banking means
In the 1930s, redlining maps created by the Home Owners Loan Corp. color-coded neighborhoods based on race, class, ethnicity, housing conditions or proximity to pollution sources. The Federal Housing Administration and the Veterans Administration followed similar practices. Generations of disinvestment followed.
“Those neighborhoods, over a period of 80 years, labored under enormous economic disadvantage,” said Josh Silver, a senior policy advisor at the National Community Reinvestment Coalition. “The white middle class was created from homeownership, and African Americans were locked out of that.”
