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- Subject:
- Business, Social Sciences
- Institution Name:
- WGBH
- Collection:
-
WGBH Open Vault
- Abstract:
Hope Kelly reports on a legislative hearing in Boston on alleged redlining practices by Boston banks. Kelly reports that the Federal Reserve Bank released a study finding evidence of redlining practices. Kelly notes that the banking industry reacted strongly to the accusations. Kelly's report includes footage from the legislative hearings. Barney Frank (US Congressman) and Benjamin Hooks (Executive Director, NAACP) condemn redlining practices. Richard Pollard (Chairman, Massachusetts Banking Association) and Richard Syron (President, Federal Reserve Bank) say that they do not believe that the banks are engaged in redlining. Kelly reviews the findings of the study. She adds that the study does not conclude if the findings reflect redlining or discrimination on the part of lenders. Kelly quotes Ray Flynn (Mayor of Boston), Michael Dukakis (Governor of Massachusetts), and Joseph Kennedy (US Congressman) as saying the redlining practices cannot be tolerated. Kelly interviews Pollard. Pollard says that banks are not engaged in redlining. He adds that banks need to better serve the needs of minority communities. Kelly notes that the legislative hearing addressed solutions to the problem of redlining, but did not talk about the problem of racism.This tape includes additional footage of the legislative hearing.
- Languages:
- English
- Material Type:
- Primary Source
- Media Format:
- Text/HTML, Video
- Conditions of Use:
-
Custom License
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Copyrighted materials, available under Fair Use and the TEACH Act for US-based
educators, or other custom arrangements. Go to the resource provider to see
their individual restrictions.
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