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Race Guides Location of Detroit-Area Financial Institutions

November 21, 2024

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Read time:

<5 mins
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Presented by The Record

A University of Michigan study examines how changes in neighborhood racial composition influence the placement of financial institutions, such as banks and payday lenders. The findings suggest that financial services follow shifts in racial demographics, with implications for neighborhood economic opportunities. The study highlights the role of financial institutions in shaping community dynamics, particularly in the Detroit area.

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