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A 2017 study by Federal Reserve Bank of Chicago economists found that redlining—the practice whereby banks discriminated against the inhabitants of certain neighborhoods—had a persistent adverse impact on the neighborhoods, with redlining affecting homeownership rates, home values and credit scores in 2010.
The Fair Housing Amendment Act of 1988 did make a system of administrative law judges to hear housing discrimination cases to help against the illegal actions. Other examples of federal legislation may include increased federal legislation enforcement, scattered-site housing, [21] or state and local enforcement on a more concentrated level. [81]
Redlining led to the systematic denial of various services, particularly mortgage loans, insurance, and other financial services, to people in specific neighborhoods based on their racial or ethnic composition. This practice has had a long-lasting impact on housing affordability and access to homeownership for minority communities in the United ...
The Federal Fair Housing Act was initially passed in 1968 shortly after the assassination of Dr. Martin Luther King, Jr. to honor his tireless fight for fair housing and civil rights.
An obscure 47-year-old law designed to right the historic wrongs of redlining was the ‘original ESG framework,’ execs say. Just look at how Crown Heights and Bed-Stuy have changed Dylan Sloan
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 ...
Several class action mortgage discrimination claims have been filed against lenders across the country, alleging that those lenders disproportionately targeted minorities for high cost, high risk subprime lending, which has resulted in disproportionately higher rates of default and foreclosure for minority African American and Hispanic borrowers.
We know all too well the systemic roadblocks people of color, and particularly Black Americans, face in realizing the dream of homeownership. | Op-ed by T’wina Nobles and Maureen Fife