December 1975
Events
- December 31, 1975Home Mortgage Disclosure Act Forces Banks to Reveal Lending Patterns
Congress passed the Home Mortgage Disclosure Act in 1975, requiring banks and savings institutions to disclose geographic mortgage lending data. Community organizers used the data to document systematic redlining in Black neighborhoods. The Act was a precursor to the Community Reinvestment Act of 1977, which prohibited discriminatory lending based on neighborhood racial composition.
- December 31, 1975Home Mortgage Disclosure Act Forces Banks to Reveal Lending Patterns
Congress required banks to disclose geographic mortgage lending data. Community organizers used the data to document systematic redlining in Black neighborhoods. The Act was a precursor to the Community Reinvestment Act of 1977.