"--a shorthand for the practice of targeting
Yet, by following Department of Justice press releases, you would discover that reverse redlining
was a legal theory applied to "buy here, pay here" auto dealers.
"First they were redlining minority communities by refusing to provide housing loans," Stein says, "then they went into reverse redlining
targeting minority communities with highly predatory loans, now they're swinging back to redlining again."
In addition to allegations of fraud and negligence, the plaintiffs said the school participated in "reverse redlining
," specifically targeting African-Americans, women and low-income citizens for its scheme.
Similar suits are ongoing from Memphis and Baltimore, cities also ravaged by the burst of the subprime bubble (see "Reverse Redlining
Wolters Kluwer Financial Services' Fair Lending Wiz software helps lenders effectively monitor against a variety of potential fair lending concerns, including redlining, reverse redlining
, steering, disparate treatment and disparate impact.
Targeting sub-prime loans to undercapitalized communities of color today is referred to as reverse redlining
, which would not have been possible today without the redlining decades ago.
This is reverse redlining
. Now we have high homeownership rates, and we don't want to lose that."
These cases are challenging these practices as "reverse redlining
" and claiming that they are denying communities of color access to credit on fair terms.
"We practice reverse redlining
,"start at $500 and rise to $5,000, versus the typical commercial minimum of $25,000 to $50,000.
Moseley-Braun will continue co-sponsoring bills addressing: reverse redlining
(when residents of selected neighborhoods can get mortgages, but only at very high rates); community development banking; and violence against women.
The bill is a commendable effort to address the complex issue generically called "reverse redlining
" that has received considerable public attention over the past two years.