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For American families, homeownership remains the principal means of building wealth, and the deprivation of investment in and access to mortgage lending services for communities of color have contributed to families of color persistently lagging behind in homeownership rates and net worth compared to white families. Redlining, a practice institutionalized by the federal government during the New Deal era and implemented then and now by private lenders, has had a lasting negative impact. Our new Initiative should send a strong message to banks and lenders that we will hold them accountable as we work to combat discriminatory race and national origin-based lending practices.” We know well that redlining is not a problem from a bygone era but a practice that remains pervasive in the lending industry today.

“Equal and fair access to mortgage lending opportunities is the cornerstone on which families and communities can build wealth in our country. “Enforcement of our fair lending laws is critical to ensure that banks and lenders are providing communities of color equal access to lending opportunities,” said Assistant Attorney General Kristen Clarke for the Justice Department’s Civil Rights Division. We will spare no resource to ensure that federal fair lending laws are vigorously enforced and that financial institutions provide equal opportunity for every American to obtain credit.” Today, we are committing ourselves to addressing modern-day redlining by making far more robust use of our fair lending authorities. “When people are denied credit simply because of their race or national origin, their ability to share in our nation’s prosperity is all but eliminated. “Lending discrimination runs counter to fundamental promises of our economic system,” said Attorney General Merrick B.

The new Initiative represents the department’s most aggressive and coordinated enforcement effort to address redlining, which is prohibited by the Fair Housing Act and the Equal Credit Opportunity Act. Redlining is an illegal practice in which lenders avoid providing services to individuals living in communities of color because of the race or national origin of the people who live in those communities. The Justice Department announced the launch of the department’s new Combatting Redlining Initiative today.

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