After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation

After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation
Rebecca K Marchiel
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Paperback
h229 x 152mm - 296pg
13 Sep 2021 US
International import eta 10-30 days
9780226815862
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American banks, to their eternal discredit, long played a key role in disenfranchising nonwhite urbanites and, through redlining, blighting the very city neighborhoods that needed the most investment. Banks long showed little compunction in aiding and abetting blockbusting, discrimination, and outright theft from nonwhites. They denied funds to entire neighborhoods or actively exploited them, to the benefit of suburban whites-an economic white flight to sharpen the pain caused by the demographic one. And yet, the dynamic between banks and urban communities was not static, and positive urban development, supported by banks, became possible. In After Redlining, Rebecca K. Marchiel illuminates how, exactly, urban activists were able to change some banks' behavior to support investment in communities that they had once abandoned. The leading activists arose in an area hit hard by banks' discriminatory actions and politics: Chicago' s West Side. A multiracial coalition of low-and moderate-income city residents, this Saul Alinsky-inspired group championed urban reinvestment. And amazingly, it worked: their efforts inspired national action, culminating in the federal Home Mortgage Disclosure Act and the Community Reinvestment Act. ? ? ? While the battle for urban equity goes on, After Redlining provides a blueprint of hope.
"After Redlining is a compelling and revelatory history of community activism, American banking, and the politics of inequality. Marchiel details how common-sense ideas about place, power, and economic fairness informed the work of ' grassroots financial regulators' who altered the national urban policy landscape, all the while moving seamlessly between rich local stories, Washington, DC, and a seismic restructuring of financial markets that undercut progressive reform. Essential reading on the persistent tension between finance and democracy in American history. "-- "David Freund, author of Colored Property: State Policy and White Racial Politics in Suburban America" "The role of financial institutions in the segregation of urban America has been the subject of important recent works, but we still have much to learn about how citizens and activists challenged discrimination and exploitation by the banks. After Redlining not only fills that gap but challenges our understanding of the history of race, finance, and inequality. Marchiel' s compelling story will leave many readers shaking their heads in frustration at the comparative lack of grassroots activism against financial discrimination and predation today, while at the same time inspired by the tenacity, savvy, and ingenuity of the organizers who fill its pages. "-- "Andrew W. Kahrl, author of The Land Was Ours: How Black Beaches Became White Wealth in the Coastal South"
Rebecca K. Marchiel is assistant professor of history at the University of Mississippi.
Status: Active
ISBN-13: 9780226815862
Published: 13 Sep 2021
Published In: United States
Imprint: University of Chicago Press
Publisher: University of Chicago Press
Format: Paperback
Height: 229mm
Width: 152mm
Spine: 25mm
Pages: 296

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