VPM, December 4, 2023, How Richmond’s Business Makeup Doesn’t Match Its Residents
A 2021 study of Paycheck Protection Program lending in Washington, D.C., conducted by the National Community Reinvestment Coalition, found evidence of explicit racial bias. In another study from 2018, NCRC sent “mystery shoppers” into banks to track their experiences. Black testers were less likely to be approached by bank personnel, more likely to be asked to provide additional information and less likely to be given information about loan fees than white testers.
