Amine Ouazad

Hamson McPherson (R), 77, looks over paper work from Wells Fargo regarding a denied loan modification request for his mortgage, with Shabnam Faruki, a lawyer at Staten Island Legal Services, in Staten Island, New York, December 9, 2011. McPherson has owned his home since 1974 but was recently denied by Wells Fargo for a loan modification request. McPherson is now working with Shabnam Faruki, a lawyer at Staten Island Legal Services to appeal the bank on their denial. Three years after the foreclosure crisis began, the process to apply for a loan modification remains a bureaucratic nightmare that is complicating the housing recovery and could dull the impact of any Obama administration initiatives in the works. Picture taken December 9, 2011. To match Analysis USA/HOUSING-FORECLOSURES REUTERS/Andrew Burton (UNITED STATES - Tags: BUSINESS REAL ESTATE)

An analysis of financial institutions in Black-majority communities: Black borrowers and depositors face considerable challenges in accessing banking services

Kristen Broady, Mac McComas, and Amine Ouazad

Tuesday, November 2, 2021