The Great Divide 2004On October 14, less than a week before the Federal Deposit Insurance Corporation (FDIC) closes the comment period on weakening the Community Reinvestment Act (CRA), ACORN will release a mortgage lending study that shows evidence of increased lending disparities.
Nationally, the study found that even upper-income African-Americans were more than twice as likely (2.6 times) to be turned down than upper-income whites. Findings also show that larger gains in lending to minorities and lower income people were made in the earlier 1993-1998 time period, while disparities increased in the more recent five years since 1998. Although, lending to minorities and lower income families has increased, it is still at low levels compared to their share of the population and the quality of these loans has changed.
ACORN sent copies of the Great Divide 2004 to the Bush and Kerry presidential campaigns. So far we have only received the following comment from Senator John Kerry. Senator John Kerry's Comments on the Great Divide 2004
Main Text Metro Findings: This section of the report provides comparisons for the 120 metropolitan areas evaluated.
City Summaries by State Iowa |
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