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Redlining is a discriminatory practice in which financial services are withheld from neighborhoods that have significant numbers of racial and ethnic minorities. [2] Redlining has been most prominent in the United States , and has mostly been directed against African-Americans .
Opacity: credit score technology is not transparent so consumers are unable to know why their credit scores are affected. The scoring system has also been critiqued as a form of classification to shape an individual's life-chances—a form of economic inequality . [ 11 ]
Owing to redlining, African-Americans usually did not qualify for mortgages from banks and savings and loan associations. Instead, they resorted to land installment contracts at above market rates to buy a house. Land installment contracts were historically predatory agreements in which buyers made payments directly to sellers over a period of ...
The anti-redlining effort has now secured $107 million in relief, including the Ameris settlement, which a judge must approve. A $31 million settlement with Los Angeles-based City National in ...
Just like historic redlining in the 20th century, the result is the same: Prices go up, supply doesn’t keep up with demand and “those people,” — once Black and immigrant communities, but ...
“Redlining devalued residential real estate, which made it more attractive to real estate speculators because of artificially low prices, so you can flip it for more money. In that sense ...
As redlining prevents households from owning, they have no choice but to rent from landlords that neglect property and charge high rent. [47] These factors allow the devalorization cycle to occur in a neighborhood, eventually leading to the reclamation and transformation of the neighborhood, uprooting the poor residents who have no equity to ...
Canton attorney Richard Harper examined the practice of redlining and how it shaped city neighborhoods. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...