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After RedliningThe Urban Reinvestment Movement in the Era of Financial Deregulation$
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Rebecca K. Marchiel

Print publication date: 2020

Print ISBN-13: 9780226723648

Published to Chicago Scholarship Online: May 2021

DOI: 10.7208/chicago/9780226723785.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 24 July 2021



(p.229) Conclusion
After Redlining

Rebecca K. Marchiel

University of Chicago Press

This conclusion argues that the roots of the 2008 financial meltdown lay in the battles that activists lost during the 1970s and 1980s, as policymakers allowed banks to abandon their stake in the survival of specific communities in pursuit of investments that earned higher returns. It also highlights the important role the CRA, the movement’s crowning legislative achievement, played in providing non-predatory mortgages to low-income and majority-minority neighborhoods through the 2008 crisis. However, the reinvestment movement’s success was ultimately limited because the need for decent, affordable housing since the 1980s has been greater than a patchwork of community-bank partnerships has had the capacity to provide.

Keywords:   2008 financial crisis, urban inequality, predatory lending

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