In 2022, a government task force released an action plan about combating bias in the appraisal industry. How can CDFIs fight back against the damage caused by under-appraisals?
Data on the pandemic shows once again the dramatic consequences of racial inequalities. CDFIs must focus on ensuring equity for Black-owned businesses.
If CDFIs adopted traditional appraisal standards to determine loan amounts, they'd make very few loans in the communities they were founded to serve.