"They go through a financial institution. Their data is fed into the system and that data has a lot of biases or it is incomplete or it has historic systemic decision-making built into it."
In the U.S. banks and federal, state and local governments have created difficulties for Black people in getting mortgages since at least 1936. Homeownership is one of the main ways families build wealth. This is why, as of 2015, white households in the Greater Boston area had a median net worth of nearly $250,000, while for Black households it was $8. That is not a typo.
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