predatory lending

The Economy & Business
6:44 am
Wed January 15, 2014

New Mortgage Rules In Effect This Week Get Mixed Reviews

 A complex new set of rules designed to limit risky loans is in place as of this week for mortgage bankers. The regulations were developed in response to the 2008 financial crisis.

That 2010 Dodd-Frank financial reform law was, among other things, supposed to make it harder for banks to issue mortgages fast and loose.

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The Economy & Business
10:27 am
Tue October 1, 2013

Feds Intervene in West Dayton Banking Controversy

A map of the West Dayton "banking desert." Regulators, bankers and community members met Monday to talk about filling the gap left by the shuttering of the Westown PNC branch.
Credit WYSO/Lewis Wallace

Federal regulators held a public meeting Monday to talk about banking services in West Dayton. The closing of the Westown PNC branch this summer has turned a large part of West Dayton into a “banking desert”; from the former site of the bank, there are no bank branches within a two-mile radius.

At the crowded meeting, David Greer with the Northwest Priority Board called the departure of banks from the neighborhood “redlining.”

“It is a form of discrimination, and this is something that we as a people have fought long and hard for decades against,” he said.

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