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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 Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
Mortgage discrimination or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion.
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The fact is, banks do benefit from implicit and explicit government safety nets. Investing in a bank is perceived as a safe bet. Without proper capital regulation, banks can operate in the marketplace with little or no capital. And governments and deposit insurers end up holding the bag, bearing much of the risk and cost of failure.
The government assumed control of the bank's £50 billion mortgage and loan portfolio, while its deposit and branch network were sold to Spain's Banco Santander. [ 17 ] In October 2008, the Australian government made A$4 billion available to nonbank lenders unable to issue new loans.
Banks are facing increased liability for scams, with $10 billion in losses reported last year. ABA's proposed measures include a national strategy, new federal offices, and updated fraud laws.
The Thin Red Line (1881) by Robert Gibb, depicting the 93rd Regiment of Foot of the British army fighting off Russian cavalry at the Battle of Balaclava in 1854. From British English, an entirely different figure of speech for an act of great courage against impossible order or thinly spread military unit holding firm against attack, or the "thin red line", originates from reports of a red ...