5/14/2015 – A Call for Responsible Banking in Low-Income Neighborhoods (NPR Marketplace)

May 13, 2015 Comments Off by

“Redlining” is when banks in lots of U.S. cities refuse to make loans or provide services in some neighborhoods—often low-income neighborhoods with high populations of immigrants and African Americans. The practice was officially ended in 1977, with a federal ban known as the Community Reinvestment Act that also encouraged banks to reinvest in poor areas.

But now some cities are saying those regulations are not doing enough: New York, Seattle and Dayton are among the cities that have passed their own ordinances to push banks to invest in low-income neighborhoods and avoid predatory lending.

Red the full article at NPR Marketplace.

Financial Landing 2015

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