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Resource ID: #8334
Subject: Redlining
Source: WHDH-TV (Boston)
Affiliation: 
Date: May 14-17

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Description

"This series broke the story that not only were banks red-lining minority neighborhoods, but also that they were profiting from it. (It) proved a pattern of discrimination and exploitation by home improvement contractors and second mortgage lenders: that they had targeted homeowners in the red-lined neighborhoods, and then charged inflated prices for shoddy work, and loan interest rates of 24%.... Thousands of minority homeowners were lured into unmanageable debt, and many lost their homes... (The banks) were using the loans to prove to the federal government that they were serving low-income areas."

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