Ethnic Banks and Community
Development in New York City's
Immigrant Neighborhoods
by
Tarry Hum

[March 21, 2008]
 

 

Dr. Tarry Hum's research examines the increasing presence of ethnic banks in New York City’s immigrant neighborhoods.  In particular, Dr. Hum focus on the growing number of Chinese-owned ethnic banks in working-class Sunset Park, Brooklyn, their lending practices and community investment activities. 

Based on an analysis of 1998-2005 HMDA data, interviews with bank CEOs and other community institutions, and a review of recent Community Reinvestment Act evaluations, she finds that despite their concentrated presence, most ethnic banks made few home mortgage loans to Asian homebuyers.  Rather ethnic banks figure prominently as part of an immigrant based urban growth coalition that is transforming neighborhoods like Sunset Park through commercial real estate development. 

Dr. Hum's talk also addresses policy implications for promoting fair access to capital and equitable community development.

 

 

 


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