WBEZ: Nonprofit To Chase Bank: Give Chicago’s Black And Latino Neighborhoods $1 Billion

WBEZ, July 22, 2020: Nonprofit To Chase Bank: Give Chicago’s Black And Latino Neighborhoods $1 Billion

“Give us a billion dollars,” said Donna Clarke, interim president and chief operating officer of Neighborhood Housing Services of Chicago.

Clarke wants Chase to channel the $1 billion to Chicago’s Black and Latino neighborhoods. She suggested three-quarters of the investment come in the form of home loans and small business loans, with the rest being used for things like major home repairs or down-payment assistance.

The WBEZ/City Bureau investigation showed that from 2012 to 2018, less than 2% of Chase’s home purchase lending in Chicago went to Black neighborhoods and just under 5% went to Latino neighborhoods, compared with 80% — $6 billion — that went to White neighborhoods.

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