ACORN study shows racial disparity in loans
A study unveiled Wednesday by the Association of Community Organizations for Reform Now (ACORN) shows Chicago having the highest Black rejection rate for mortgage lending and that the gap between minority homeowners and whites remains very wide.
The study, which analyzed data nationally and in 60 metropolitan areas including Chicago, showed: "Across the country, low and moderate income and minority borrowers are being turned down for mortgages more often than other borrowers, and here in Chicago the problem is wore for African Americans than almost anywhere else," said Denise Dixon, president of the Illinois ACORN.
"Banks …
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