New Economy Project has published a new set of maps that show persistent redlining in four cities across the state.
The maps show banks’ failure to locate branches in communities of color, in Buffalo and New York City. In Buffalo, for example, there are no bank branches located in zip code 14211, a predominantly black neighborhood with more than 22,000 residents. By contrast, there is one bank branch for every 2,463 residents in zip code 14216, a predominantly white neighborhood.
The maps of Rochester and Syracuse show blatant mortgage redlining. In both cities, lenders made mortgages to people in majority white neighborhoods more than twice as often as to people in majority non-white neighborhoods.
New Economy Project released the maps on April 29, 2019, at a briefing in Albany by the NYS Community Equity Agenda. To create the maps, New Economy Project analyzed home mortgage lending data for 2017 (the most recent year for which the data are publicly available) and 2018 FDIC bank branch data.