The treasurer and attorney general said they would probe possible discrimination in mortgage lending. The Philadelphia City Council plans hearings.
People of color continue to be denied conventional mortgage loans at rates far higher than their white counterparts.
A 1977 law, designed to correct redlining, didn’t anticipate a day when historically black neighborhoods would be sought by young white homebuyers.
Reveal analyzed publicly available data released through the Home Mortgage Disclosure Act, combing through 31 million records for 2015 and 2016.
Among the 6,600 U.S. lenders, some stood out for particularly extreme practices.
Reveal’s analysis of mortgage data found evidence of modern-day redlining in 61 metro areas across the country.