Neighborhoods, Banks, and Capital Flows: The Transformation of the U.S. Financial System and the Community Reinvestment Movement

James T. Campen
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James T. Campen: Department of Economics, University of Massachusetts/Boston, 100 Morrissey Boulevard, Boston MA 02125, campen@umbsky.cc.umb.edu

Review of Radical Political Economics, 1998, vol. 30, issue 4, 29-59

Abstract: Substantial changes in the structure and operation of the U.S. financial system during the last quarter century have reduced the flows of credit and banking services to low-income and minority communities. This article explains how the operation of basic technological, economic, and political forces has transformed the financial institutions of U.S. capitalism; examines the consequences of this transformation for the residents of low-income and minority communities; and explores how the grassroots-based community reinvestment movement has effectively adapted its strategy and objectives to "the ongoing revolution In American banking."

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:30:y:1998:i:4:p:29-59

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