Team Favorite: Banks Vowed To Help Black Homebuyers. What Happened?
Big Take
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The Erosion of One Family's Wealth, the Missed Opportunities
The banks are blaming market conditions and other forces beyond their condition. Other forces beyond their control are largely responsible for their inability to meet the promise of lending to more black Americans. Baltimore was actually at the center of a series of lawsuits over reverse redlining, targeting by Wells Fargo and other banks of black communities for high interest subprime loan. And you think about that you talked to Terrence Jones Jr. and what you see there is just the erosion of one family's wealth, the missed opportunities.
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