Democracy Rules

The 1968 Fair Housing Act and the 1977 Community Reinvestment Act are federal laws which prohibit home lending discrimination based on an applicant’s race, sex, religion, family status or disability. These laws also make it illegal for banks to impose predatory interest rates or fees on borrowers. Redlining is an illegal practice in which neighborhoods, often populated by minorities, are denied loans for buying and renovating homes. Housing discrimination studies show redlining is a significant factor behind the wealth disparity between blacks and whites today, so much so that black families have lost at least $212,000 in personal wealth over the last 40 years because their home was redlined. Advocates claim that redlining is still occurring today – only in more subtle ways. Lenders now use proprietary algorithms involving credit scores and educational levels that have a discriminatory impact on borrowers of color. Recent independent analysis also found that the greater the number of African Americans or Latinos in a neighborhood, the more likely a loan application will be rejected – even after accounting for income and other factors.

Proposed Legislation: Reintroduction of H.R.9699 - Examining Educational Redlining in Lending Act (117th Congress 2021-2022)
Prospective Sponsor: Rep. Joyce Beatty (OH)

I oppose reforming current redlining policy and wish to donate resources to the campaign committee of Speaker Kevin McCarthy (CA).
I support: 1.) Conducting an assessment of the use of certain educational data in determining the creditworthiness of an applicant that includes. 2.) The use of certain educational data by covered persons in determining the creditworthiness of an applicant. 3.) The use of an underwriting process that involves gathering data points and creating applicant profiles, including automated or algorithmic processes, and the risks of such use, by covered persons to determine the creditworthiness of an applicant. 4.) Policies and guidelines are in place to ensure decisions do not result in a disparate impact on a protected class. And wish to donate resources to the campaign committee of Rep. Joyce Beatty (OH) and/or to an advocate group currently working with this issue.

Winning Option »» No issues were voted

I support: 1.) Conducting an assessment of the use of certain educational data in determining the creditworthiness of an applicant that includes. 2.) The use of certain educational data by covered persons in determining the creditworthiness of an applicant. 3.) The use of an underwriting process that involves gathering data points and creating applicant profiles, including automated or algorithmic processes, and the risks of such use, by covered persons to determine the creditworthiness of an applicant. 4.) Policies and guidelines are in place to ensure decisions do not result in a disparate impact on a protected class. And wish to donate resources to the campaign committee of Rep. Joyce Beatty (OH) and/or to an advocate group currently working with this issue.