What is Redlining?
The term "redlining" is used to indicate conscious denial of financial services to people in specific neighborhoods. Redlining played a major role in the bias of housing in the United States in the United States at 70 years. Years and some people say that this practice persists, although it is much finer than it used to be. As you can imagine, redlining hurts communities and people who live in them create a ghetto where people cannot buy houses, accept loans or get insurance, and usually affects low -income and minority neighborhoods. Many cities in the United States were divided into sectors at the beginning of the 20th century, with institutions indicating that newer, whiter neighborhoods should gain more financial support than older minority neighborhoods. Some historians feel that Redlinting creates a ghetto that existed today in many American cities. Historically, people who try to buy houses in a redized neighborhood can find their requests rejected even if they provide enough evidence to make the SznThey even though they were financially responsible people able to exercise obligations that come with a mortgage. In addition, Redlining also made it difficult for people to get small businesses and other loans that could be used to improve their communities.
REDLINING could also make it difficult for people to acquire insurance, while insurance agencies have refused to risk coverage of people in certain areas, and this practice continues to this day, even if insurance companies vehemently deny it. Banks could refuse to offer services in reed neighborhoods, force people to use pawns and control pay -outs for their financial needs, and many retail chains practice so -called "redingons" that refused to open branches in certain areas. As a result, people in some neighborhoods may not have access to grocery stores, banks and other institutions they need.
the Act on the Righteous Housing of the YearIn 1968, the Redlinting and the 1977 community reinvesting Act also banned the Redlining by forcing the creditors to assess the applicant on the basis of their individual cases, not their neighborhood. These legislation arose in response to public outrage regarding redlining and other practices that violated civil rights. However, some people believe that redlining is still a problem that points to extremely poor and often minority neighborhoods that persist throughout the United States, despite the laws to create equal access to financial services.