Lending Bias Found In St. Louis, Milwaukee, Minneapolis
By John Kennedy (July 19, 2016, 3:53 PM EDT) -- The St. Louis, Milwaukee and Minneapolis areas have extensive mortgage lending imbalances, the National Community Reinvestment Coalition said in a report released on Monday, finding that mortgage credit distribution is heavily swayed by family income levels and the racial makeup of neighborhoods.
The coalition, which is comprised of a number of organizations seeking to create opportunities for people to build wealth, said that the three cities, although differently segregated, are home to sweeping lending inequalities. Although median family income is a crucial factor and often more telling than race when it comes to lending discrimination, lending is done more often in...
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