Do Subprime Loans Create Subprime Cities? Surging Inequality and the Rise In Predatory Lending

Source: Gregory D. Squires, Economic Policy Institute, Briefing Paper no. 197, February 28, 2008

From the press release:
The development of a two-tiered system of financial services, driven by the rising economic inequality in the United States, is ushering in a new era of de facto redlining, according to a new paper from the Economic Policy Institute, “Do Subprime Loans Create Subprime Cities? Surging Inequality and the Rise in Predatory Lending.”

In the paper, published by EPI as part of its Agenda for Shared Prosperity, author, Gregory D. Squires, a George Washington University sociologist, contends that increasing economic inequality and diminishing access to conventional financial services have become inextricably linked.

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