Bankrate, August 16, 2022, What are Hispanic American-owned banks and how can you support them?
While the federal government prohibited redlining in 1968 with the Fair Housing Act, its effects are still felt today. Nearly three-quarters (74%) of areas that were redlined — discriminated against by lenders — are low-to-moderate income today, according to a study by the National Community Reinvestment Coalition. Most of these neighborhoods (64%) are also still predominantly made up of racial or ethnic minority residents.
