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Community Lending and Economic Development

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Improving access to credit by minority and low-income communities represents a serious challenge to lenders, community residents, and government officials. Hardly a day goes by without a story in a major newspaper or in a trade publication dealing with some aspect of this issue. My own view is that most discussions about community investment and lending discrimination ignore some fundamental lessons from economic theory and practical experience.

Improving access to credit by minority and low-income communities represents a serious challenge to lenders, community residents, and government officials. Hardly a day goes by without a story in a major newspaper or in a trade publication dealing with some aspect of this issue. My own view is that most discussions about community investment and lending discrimination ignore some fundamental lessons from economic theory and practical experience.


Suggested citation: Jordan, Jerry L., 1993. "Community Lending and Economic Development," Federal Reserve Bank of Cleveland, Economic Commentary, 11.15.1993.

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