This is factual. It may not be the way we would like to have it. but it is a reality. This is particularly true with new immigrants who come to the United States because the minority banks provide bilingual services. The Community Reinvestment Act compliance cost is more burdensome to minority banks than to large or nonminority community banks. namely. the existing CRA requires a minority bank to allocate resources. and I would venture to say inefficiently. as it is required to divert its resources to groups other than the group of the ethnic minority it is most proficient at serving. There is an example of a bank in Los Angeles which has devoted a tremendous amount of resources to penetrate the Hispanic and AfricanAmerican communities.
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