The California Reinvestment Coalition’s new research in five California cities shows re-redlining happening through a pattern of concentrated predatory lending and foreclosures, combined with higher denials for new, prime loans in neighborhoods of color. Based on original research using seldom analyzed lending and loan modification data, the report looks at how banks, including the largest financial institutions, have acted in Los Angeles, Oakland, Sacramento, San Diego, and Stockton over the last three years.
To download a pdf of the report, From Foreclosure to Re-Redlining, click here.
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I hear that slavery is making a strong comeback, too.