How FAIR Plans Confronted Redlining in America

Abstract: Access to financial services, including insurance, is vital for the growth and development of communities. Without banks issuing residential mortgages and business loans, it is extremely difficult for people to purchase homes and grow their businesses. Without property insurance, banks will be reluctant to provide such loans. Thus, the inability to access property insurance makes communities more vulnerable to cycles of disinvestment and decline. In this Chicago Fed Letter, I examine the Fair Access to Insurance Requirements (FAIR) plans, how they addressed the issues of insurance availability and affordability in urban areas, and the role redlining played in affected areas.

Keywords: Redlining; Insurance; History; Indigenous peoples; Immigrants;

JEL Classification: J15; G22; A13; G18; G28; G41;

Access Documents


Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Chicago Fed Letter

Publication Date: 2023-09

Volume: No 484

Pages: 8