Ask Question
BusinessBusiness
23 June, 03:25

A process by which banks designate an area within which they refuse to lend money for improvements is

+3
Answers (2)
  1. 23 June, 05:42
    0
    Redlining

    Explanation:

    Redlining is a practice in which a bank refuses to lend money for improvement either in loans, mortgages, credit card, insurance and others due to income, race, ethnicity, geographical location. It is seen to be a discriminatory and an illegal act.

    It can be direct through a direct decline of services as mentioned above or indirect through higher interest rates for borrowers from specific regions or certain racial groups.
  2. 23 June, 05:50
    0
    Redlining

    Explanation:

    Redlining by banks refers to the bank marking out an area on the map in which they indicate areas or neighborhoods they don't want to make loans to. Areas marked signifies areas they don't want to invest in or make loans to individuals in those areas. The areas marked however are usually associated with people of some certain kind of socio economic characteristics, mostly pertaining to race in the United states. Other socioeconomic characteristics that is usually marked out is areas characterized by low income earners.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A process by which banks designate an area within which they refuse to lend money for improvements is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Last year if 97 percent of the revenues of a company came from domestic sources and the remaining revenues, totaling $450,000, came from foreign sources, what was the total of the company's revenues?
Answers (1)
In 1 or 2 sentences, explain whether a monopolist uses resources efficiently.
Answers (2)
What If the Facts Were Different? Suppose that Coca-Cola had been trying to make the public believe that its product contained cocaine. Would the result in this case likely have been different? Why?
Answers (1)
A product may be made using machine I or machine II. The manufacturer estimates that the monthly fixed costs of using machine I are $18,000, whereas the monthly fixed costs of using machine II are $15,000.
Answers (1)
David Ortiz Motors has a target capital structure of 40% debt and 60% equity. The yield to maturity on the company's outstanding bonds is 11%, and the company's tax rate is 40%. Ortiz's CFO has calculated the company's WACC as 9.39%.
Answers (1)
New Questions in Business
At a recent staff meeting, the director of the centerville diagnostic imaging center told the staff, "our clients hate to waste time in a waiting room, and they may go to another center if we don't provide prompt service.
Answers (1)
Implicit transaction
Answers (1)
A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $8 each or to produce them in-house.
Answers (2)
A stock's holding period return represents: a. the return from a stock relative to the return from a specific portfolio. b. the total return earned over a specific period through buying and selling an asset. c.
Answers (1)
Evaluate the current China/Taiwan logistics costs. Assume a current total volume of 190,000 CBM and that 89 percent is shipped direct from the supplier plants in containers.
Answers (1)
Home » Business » A process by which banks designate an area within which they refuse to lend money for improvements is
Sign Up Forgot Password?