In reverse redlining, banks may engage in predatory lending in the same neighborhoods that were once marked as off limits for borrowers, Rossman said. For example, in the years leading up to the 2008 housing crash, mortgage lenders peddled hundreds of thousands of risky subprime loans, includin...
For example, redlining has been used to describediscriminatory practicesby retailers, both brick-and-mortar and online. Reverse redlining is the practice of targeting neighborhoods (mostly non-white) for higher prices or lending on unfair terms, such as predatory lending of subprime mortgages. There...
Reverse Redlining. The term “redlining” means refusing to offer financial products, such as mortgages or insurance, to anyone who lives in a low-income or minority neighborhood. Today, this practice is illegal, although theChicago Tribunereported in 2018 that many banks still do it. However,...
Find out who is protected by the federal Fair Housing Act of 1968, how to spot housing discrimination and ways to report it.
Home Mortgage Disclosure Act of 1975 Community Reinvestment Act of 1977 What Is Redlining? Redlining is the now-illegal practice of denying credit to residents of certain areas based on their race or ethnicity. The term originated in the 1960s to describe maps created by the Home Owners’ Loa...
When someone asks me to explain my vision for Six Things, I explain this blog as an interview in reverse. I start with the six things that the subject (contributor) really wants us to know about his or her situation, vocation, or avocation, and then I ask for more context. So, you...
of course, smart cards have to be tamper-proof so people can't reverse engineer them and double-spend. the prime protection is cryptography. "the bits in a container have to move from one to the other," explains rosen. "when you're done, you have to have less in one container and ...
12. Awarded 1-year poverty law fellowship in Toledo, Ohio. Turned down to move back to DC. 13. Test "husband" for "the white couple" for mortgage and leasing redlining discrimination investigation conducted by HUD 14. Two of three law review articles on racial discrimination under Constitution...
What Is a Material Misrepresentation? A material misrepresentation is a promise, false statement, or omission of facts that would cause another party to act differently if the whole truth were known. An example of a material misrepresentation is incorrectly stating one's income on a mortgage applic...