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Community Development Financial Institutions vs. Predatory Lending in Buffalo, NY

Date: Aug 24, 2020
Author(s): Milena Saakyan
Topic(s): Economic Development: General
Type: Fact Sheet
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This fact sheet offers data on CDFIs and Predatory Lenders in Buffalo, NY. Maps demonstrating racist practices of one local bank are also included.

This series on Predatory Lending was undertaken by Ryan Aguilar and Milena Saakyan for Westminster Economic Development Initiative (WEDI) while completing Cornell High Road Fellowships in Summer 2020. This collection aims to expose the deceptive practices of predatory lenders which disproportionately impacts people of low income and minority status as well as highlight the counter measures that Community Development Financial Institutions (CDFIs) take to ensure equitable lending.

 

Resources include:

Repudiated: “Unbankable” Business Owners

Predatory Lenders: Avoiding Scams and Unethical Lending Practices

CDFI Ecosystems and Alternate Forms of Lending

Analysis of Predatory Lending in New York: From Origins to Interviews

Community Development Financial Institutions vs. Predatory Lending in Buffalo, NY