Fair Housing
An Alaska bank that targets minority borrowers for predatory high-cost loans when they could qualify for standard loans is engaging in:
ARedlining
BReverse redlining✓ Correct
CBlockbusting
DSteering
Explanation
Reverse redlining is the predatory practice of targeting minority communities with exploitative, high-cost loan products even when borrowers could qualify for standard products. Like traditional redlining, it violates fair housing and fair lending laws.
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Key Terms to Know
Steering
An illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
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