To try to make loans more equitable, the city of Dallas is looking at creating a banking ordinance.
The concern is that banks are still choosing not to make loans, or do business, in low-income areas, even though federal law mandates they don't discriminate.
The ordinance would require the city to evaluate how well a bank serves all its citizens, no matter income level, before choosing to do business with that bank.
"We all know that these banking policies happen because of institutional racism. That's all this is," said councilman Omar Narvaez.
Local governments have a lot of cash with hundreds of millions in taxes and fees to deposit in a bank, and that gives them leverage.
A banking ordinance gives a local government the ability to try and improve the everyday lives of all taxpayers, no matter their income level.
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