END REDLINING

The Issues:

Mortgage Redlining

In Michigan, 50 years have passed since the federal government banned discrimination in the home mortgage industry. But a new mortgage data shows people of color are still routinely denied conventional mortgage loans compared to their white counterparts. This is true in 61 metro areas across the country, including Lansing and Detroit, even when controlling for applicants’ income, loan amount and neighborhood. In Detroit, Black loan applicants in 2016 were 1.8 times more likely to be denied a loan than their non-Hispanic, white counterparts. In Lansing, the odds are even bleaker for Black applicants, who were more than three times as likely to face denial. 

Auto Insurance Redlining

Where a person lives, along with sex, race, credit score history, type of job you have, and marital status — should have no bearing on car insurance rates if you are a safe driver, and have not caused any prior car accidents, and pay your car insurance bill on time.

Redlining is real in Detroit, Flint, Battle Creek and other cities wrongfully functions in Michigan as a form of legalized discrimination. Redlining is part of a broader civil rights issue that causes almost a million people to drive uninsured and risk suffering devastating consequences if they were ever injured in a car crash. 

Shri’s Solutions:

Stop redlining period. I will challenge mortgage lenders, business lenders, and other unfair banking practices that systematically steer minorities into higher cost products and/or deny homeowners and businesses owners access to credit regardless of their income, credit and ability to pay. 

Stop “territorial rating” of car and home insurance rates, which result in huge disparities that residents of communities of color like Detroit and Wayne County face when paying for car and homeowners insurance.

End the use of credit scoring in determining insurance rates.

The Issues:

Mortgage Redlining

In Michigan, 50 years have passed since the federal government banned discrimination in the home mortgage industry. But a new mortgage data shows people of color are still routinely denied conventional mortgage loans compared to their white counterparts. This is true in 61 metro areas across the country, including Lansing and Detroit, even when controlling for applicants’ income, loan amount and neighborhood. In Detroit, Black loan applicants in 2016 were 1.8 times more likely to be denied a loan than their non-Hispanic, white counterparts. In Lansing, the odds are even bleaker for Black applicants, who were more than three times as likely to face denial. 

Auto Insurance Redlining

Where a person lives, along with sex, race, credit score history, type of job you have, and marital status — should have no bearing on car insurance rates if you are a safe driver, and have not caused any prior car accidents, and pay your car insurance bill on time.

Redlining is real in Detroit, Flint, Battle Creek and other cities wrongfully functions in Michigan as a form of legalized discrimination. Redlining is part of a broader civil rights issue that causes almost a million people to drive uninsured and risk suffering devastating consequences if they were ever injured in a car crash. 

Shri’s Solutions:

Stop redlining period. I will challenge mortgage lenders, business lenders, and other unfair banking practices that systematically steer minorities into higher cost products and/or deny homeowners and businesses owners access to credit regardless of their income, credit and ability to pay. 

Stop “territorial rating” of car and home insurance rates, which result in huge disparities that residents of communities of color like Detroit and Wayne County face when paying for car and homeowners insurance.

End the use of credit scoring in determining insurance rates.

shri thanedar

SHRI THANEDAR FOR STATE REP

Use Your Power. Join Our Movement.

SHRI THANEDAR FOR STATE REP

Use Your Power. Join Our Movement.