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Article: California Reinvestment Committee - Banks Below Par in Lower Income Neighborhoods.
- Article from:
- PR Newswire
- Article date:
- May 29, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO -- The California Reinvestment Committee (CRC) has just released a report on small business lending by the 32 biggest California lenders, Small Business Access to Bank Credit: the Little Engine that Could. CRC's study sets an equality benchmark to show whether major financial institutions' small business loans go equally to local businesses located in lower income neighborhoods. Not one of California's major small business lenders met CRC's equality benchmark across the five counties studied (Alameda, Fresno, Los Angeles, Sacramento and San Diego Counties).
The most significant findings are:
-- Not one of the thirty-two most dominant banks ...