In a decision that expands the legal weapons used to combat housing discrimination, a U.S. appeals court ruled that the federal Fair Housing Act prohibits “redlining” in insurance just as it does in mortgage lending. The three-judge panel in Chicago on Tuesday unanimously reversed a lower c...
The Fair Housing Act (FHAct) of 1968 makes it illegal for lenders to deny borrowers based on race, color, or other discriminatory factors. The effects of redlining can still be felt by Black communities and other communities of color across the U.S. ...
to residents of minority areas. The term arose from urban activists in Chicago in the 1960s in response to the literal practice by banks of drawing red lines on local maps to demarcate minority areas to which lending should be curtailed. Until the Fair Housing Act of 1968, this practice was...
Fair Housing ActSubprime mortgagesLoan performanceDiscriminationWe investigate whether race and ethnicity influenced subprime loan pricing during 2005, the peak of the subprime mortgage expansion. We combine loan-level data on the performance of non-prime securitized mortgages with individual- and ...
RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook Redlining Dictionary Thesaurus Financial Idioms Encyclopedia Wikipedia Related to Redlining:gentrification,reverse redlining A discriminatory practice whereby lending institutions refuse to make mortgage loans, regardless of an...
customers based on the latter’s race or ethnicity. For example, theFair Housing Actin the United States protects housing buyers and renters from discriminatory practices that could be employed by sellers or landlords. Additionally, the Community Reinvestment Act bans all redlining practices in ...
In a complaint and Agreed Order for Resolution filed in federal district court in Alabama on Wednesday, September 30, 2009, the United States Department of Justice charged First United Security Bank of Thomasville, Alabama, with violations of the Fair Housing Act and the Equal Credit Opportunity ...
Redlining as an official practice ended with the passage of theFair Housing Actin 1968, which specifically prohibits racial discrimination in the housing industry and among professionals engaged in renting, buying, selling and financing residential properties. The Act’s protections were extended by the...
The Fair Housing Act was first put beforeCongressin 1966, primarily to address issues of racial discrimination in the rental and sales of housing. Over the next two years, members of theHouse of RepresentativesandSenateconsidered the bill several times, but, on each occasion, it failed to gain...
Courts have determined that redlining is illegal when lending institutions use race as a basis for excluding neighborhoods from access to loans. In addition, theFair Housing Act, which is part of the Civil Rights Act of 1968, prohibits discrimination in lending to individuals in neighborhoods based...