That redlining over allegedly not liking people of color is crap. Redlining was invented by FDR's administration who steered federal home and farm loans exclusively to their base - white people.
Yes, that's how it started......however it was after WWII when racial covenants on deeds were deemed illegal, that redlining reached its heyday.
People in business to make money pay a price in the market for racism.
The issue for loans to poor folks is the likelihood of payback, not the race.
I don't think so:
"Redlining is the practice of denying, or increasing the cost of, services such as banking, insurance, access to jobs,[2] access to health care,[3] or even supermarkets[4] to residents in certain, often racially determined,[5] areas. The term "redlining" was coined in the late 1960s by community activists in Chicago.[citation needed] It describes the practice of marking a red line on a map to delineate the area where banks would not invest; later the term was applied to discrimination against a particular group of people (usually by race or sex) no matter the geography. During the heyday of redlining, the areas most frequently discriminated against were black inner city neighborhoods. Through at least the 1990s this practice meant that banks would often lend to lower income whites but not to middle or upper income blacks.[6]
Reverse redlining occurs when a lender or insurer particularly targets minority consumers, not to deny them loans or insurance, but rather to charge them more than would be charged to a similarly situated majority consumer." |
