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Home Loans in Chicago: One Dollar To White Neighborhoods, 12 Cents To Black
In Chicago, lenders have invested more in a single white neighborhood than all the black neighborhoods combined. Call it modern-day redlining.By, WBEZ; , City Bureau; WBEZPublished June 3, 2020Eighty years ago, the federal government drew around Chicago’s black neighborhoods and warned banks not to make home loans there. Today, discrimination in housing is outlawed, and are supposed to ensure banks lend in all neighborhoods. But a new analysis by WBEZ and the nonprofit newsroom City Bureau shows gaping disparities in the amount of money lent in Chicago’s white neighborhoods...…In Chicago, lenders have invested more in a single white neighborhood than all the black neighborhoods combined. Call it modern-day redlining.By, WBEZ; , City Bureau; WBEZPublished June 3, 2020Eighty years ago, the federal government drew around Chicago’s black neighborhoods and warned banks not to make home loans there. Today, discrimination in housing is outlawed, and are supposed to ensure banks lend in all neighborhoods. But a new analysis by WBEZ and the nonprofit newsroom City Bureau shows gaping disparities in the amount of money lent in Chicago’s white neighborhoods...WW…
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