WFAA, June 27, 2021, ‘That’s a smoking gun’: Analysis shows bank branches in Southern Dallas take deposits, but make few loans
DALLAS — A bank is supposed to do two things: collect deposits and make loans. And many do – if you live in the right part of town.
Banking Below 30, WFAA’s ongoing investigation of banking practices, has found that south of Interstate 30, where most of the residents are Black or Hispanic, many bank branches take deposits, but those same banks don’t lend much back out to customers in the surrounding neighborhoods.
“That’s a smoking gun,” said John Taylor, a fair lending advocate and head of the National Community Reinvestment Coalition. The NCRC has assisted WFAA in analyzing government loan data throughout the Banking Below 30 investigation.
