Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. This practice is:

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05-07-2022
Business

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Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. This practice is:

Sagot :

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Okpalawalter8idn Okpalawalter8idn · Answer 1 · 2022-07-11T11:07:10-04:00

Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. This practice is: redlining. This is further explained below.

What is redlining?

Generally, Mortgage lenders' and insurers' unlawful redlining is a kind of discrimination that affects whole neighborhoods.

In conclusion, The mostly Asian section of town is on the western edge of town, but the Jonestown Community Bank won't lend money to anybody looking to buy a house there. Redlining is the term for this tactic.

Sagot :

What is redlining?

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