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The brutal killing of Mr. George Floyd, an African-American in Minneapolis, MN at the hand of law enforcement officers (earlier this week) and the subsequent riots nationally symptomize the underlying flaws and problems of discrimination and uneven treatment of minorities. Even the deaths related to Covid-19 among minorities can be traced to poverty and access to timely and affordable healthcare.

Unfortunately, even in the financial sector, we find that discrimination, redlining and predatory lending impacting minorities (especially African Americans) and women.  Often, these groups are denied credit through traditional banking sources for mortgage lending, commercial and business loans and personal loans.  Often, these problems are intertwined with poverty, education, credit history and socio-economic conditions associated with segregation and discrimination.

In this paper:

  • Trace the extent to which these practices exist in society today
  • The premiums (additional private and social costs) which the members of these communities pay when receiving credit
  • Identify the alternate markets which are serving the needs of these communities and the problems associated and
  • Public policies (regulations) from the federal government and Federal Reserve to address these problems and if they have been successful.

NOTES:

Write a clear well written paper (1600 words) using 5 credible and scholarly resources.

Use sources from academic and business journals, Federal Reserve, Brookings Institution, and other economic journals.

Avoid all .com, Wikipedia, Investopedia, think tanks such as CATO Heritage Foundation, CNN/Fox News and other right / left wing extreme sources and blogs as resources.

.

Please acknowledge all sources used and avoid “cutting and pasting.”  If you use excessive direct quotes or copy from another source, it will be plagiarism.  Should  plagiarism is detected,  you may receive an “F” for this course and other academic penalties.

Use the APA style for formatting the paper.

Please have the paper reviewed by the Writing Center of the English department on the campus.  Please attach a copy of a receipt from the Writing Center as an appendix or in a separate email     Start early and give them time to review and respond.