In 1992, the Federal Reserve published a study of mortgage lending patterns in Boston. He came to the conclusion that even when credit factors were taken into account, black and Hispanic applicants experienced higher levels of rejection. Richard Pollard, chairman BayBank Boston, had to decide how to respond. Over the past three years, he led efforts to BayBank and Massachusetts Bankers Association to address community concerns expressed earlier, less conclusive research. Some innovative program was created through the merger. In the new study raised the question of whether the existing programs will not be enough to solve the problem. "Hide
by J. Gregory Dees, Christine C. Remey Source: Harvard Business School 23 pages. Published: 15 January, 1993. Prod. #: 393095-PDF-ENG
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