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BOSTON PLANS STEPS TO BOOST LENDING TO MINORITIES

By The Associated Press / September 12, 1989



BOSTON

Mayor Raymond Flynn plans to encourage banks to increase loans to minorities by depositing city funds only in institutions that grant loans to the minority community. The move followed a recent Federal Reserve Bank report that said white Boston neighborhoods receive more mortgages than black neighborhoods. The US House Banking Committee has scheduled a hearing for Sept. 29 in Boston on the issue.

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