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Banks, insurance companies, and discrimination

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  • Block, Walter
  • Snow, Nicholas
  • Stringham, Edward

Abstract

This article examines some of the reasons why banks and insurance companies have been accused of discrimination, and shows that this is by and large a false accusation. Economic analysis demonstrates that racial discrimination is not a profit-maximizing strategy. Actually, unwise public policies are actually precluding many consumers from the market.

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File URL: http://mpra.ub.uni-muenchen.de/26035/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26035.

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Date of creation: Sep 2008
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Publication status: Published in Business and Society Review 7.35(2008): pp. 403-419
Handle: RePEc:pra:mprapa:26035

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Related research

Keywords: redlining; financial regulation; unintended consequences;

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References

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  1. Luigi Buzzacchi & Tommaso Valletti, 2005. "Strategic Price Discrimination in Compulsory Insurance Markets," The Geneva Papers on Risk and Insurance Theory, Springer, Springer, vol. 30(1), pages 71-97, June.
  2. Lynn Elaine Browne & Geoffrey M.B. Tootell, 1995. "Mortgage lending in Boston: a response to the critics," New England Economic Review, Federal Reserve Bank of Boston, Federal Reserve Bank of Boston, issue Sep, pages 53-78.
  3. Calomiris, Charles W & Kahn, Charles M & Longhofer, Stanley D, 1994. "Housing-Finance Intervention and Private Incentives: Helping Minorities and the Poor," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 26(3), pages 634-74, August.
  4. Coate, Stephen & Loury, Glenn C, 1993. "Will Affirmative-Action Policies Eliminate Negative Stereotypes?," American Economic Review, American Economic Association, American Economic Association, vol. 83(5), pages 1220-40, December.
  5. Becker, Gary S., 1971. "The Economics of Discrimination," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226041162, June.
  6. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, American Economic Association, vol. 86(1), pages 25-53, March.
  7. Kerwin Kofi Charles & Erik Hurst, 2002. "The Transition To Home Ownership And The Black-White Wealth Gap," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 281-297, May.
  8. Harold Black & Breck Robinson & Robert Schweitzer, 2001. "Do lenders discriminate against low-income borrowers?," The Review of Black Political Economy, Springer, Springer, vol. 28(4), pages 73-94, June.
  9. Day, Theodore E & Liebowitz, S J, 1998. "Mortgage Lending to Minorities: Where's the Bias?," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 36(1), pages 3-28, January.
  10. Roback, Jennifer, 1986. "The Political Economy of Segregation: The Case of Segregated Streetcars," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 46(04), pages 893-917, December.
  11. Anthony M.J. Yezer & Robert F. Phillips & Robert P. Trost, 1994. "Bias in estimates of discrimination and default in mortgage lending: the effects of simultaneity and self-selection," Proceedings, Federal Reserve Bank of Philadelphia, Federal Reserve Bank of Philadelphia, pages 197-222.
  12. Harrison, Glenn W, 1998. "Mortgage Lending in Boston: A Reconsideration of the Evidence," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 36(1), pages 29-38, January.
  13. Ferguson, Michael F & Peters, Stephen R, 1995. " What Constitutes Evidence of Discrimination in Lending?," Journal of Finance, American Finance Association, American Finance Association, vol. 50(2), pages 739-48, June.
  14. HAROLD Black & M. Collins & Ken Cyree, 1997. "Do Black-Owned Banks Discriminate against Black Borrowers?," Journal of Financial Services Research, Springer, Springer, vol. 11(1), pages 189-204, February.
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