The majority of us were red lined into poorer communities due to FHA policies implemented in the 1930's. Add in disparities in mortgage lending for 70 years - it's not Glass Steagall related.
How the banks got away with it - IS G.S. That legislation must be implemented immediately. We cannot afford to help anyone who can't pay us back. Notice I refer to a bank as a person because we have that stupidity (corporate person hood to contend with

).
Blaming the Bill Clinton for FDR's assery isn't fair. Clinton like everyone else went along with the status quo. The last person to call it out got fired by Nixon - that was George Romney - Mitt's daddy.
Blacks were disproportionately impacted because if you only had $500 in wealth and it dropped to $100 - you weren't wealthy in the first place.
The homes people bought for 70/74 years were in neighborhoods the Federal Government designed to keep black people in one place.
The post WW II infrastructure development aided and abetted white Americans in their flight to the suburbs - and FHA policy was created to trigger their departure.
Even if you bought a home in South West Rochester NY in 1950 or South Plainfield NJ in 2003 - you were buying in neighborhoods Fed Gov designed to NOT accumulate wealth in home value. If you were trapped in Newark in 1970 - your children received a sub standard education and your grandchildren are receiving one now.
We need to have honesty in when this all started and who started it and WHY.
It cannot be corrected or improved if we worship at the altar of FDR and won't acknowledge that in order to win - black people - much like Japanese people - had to lose. The internment camps closed.
The FHA policies continued for two more decades.
Of note - my granddaddy - Morehouse educated man - paid Eisenhower's top tax rate in the 1950's. His property taxes in Alabama were grabbed for white schools. He bought the black school buses and modernized his children's school behind the backs of the White Citizens Council.
Please don't tax us to death when we (including myself) continue that tradition of putting oxygen masks on our own communities first with our disposable resources.
We trusted the New Deal and received nothing. Thank God Truman ensured the education benefits of the GI Bill could be used by black vets if a college allowed them in. That was a good thing. But what came before and after was NOT good.
Every time you throw Bill away - throw Frank away too. There were only two bright spots for black Americans getting ahead until 2009 and their names were Dwight and Lyndon.