WASHINGTON — Denial rates for home borrowers based on race widened significantly from 2006 to 2007, according to Sen. Chris Dodd (D-Conn.), chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs. Dodd's office examined Home Mortgage Disclosure Act data recently released by the Federal Reserve.
Dodd called the data "proof of a disturbing and continuing trend of unfair lending practices" faced by minority purchasers and said the committee will continue to focus on how to end discriminatory lending practices.
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