verb discriminate in selling or renting housing in certain areas of a neighborhood.verb To run an internal combustion engine to its maximum or maximum recommended speed.įrom WordNet 3.0 Copyright 2006 by Princeton University.verb To mark a drawing or document for correction or modification.noun The maximum speed at which the engine in a car is designed to operate.that has been marked for correction or modification. noun Either of two red lines running across an ice hockey rink near the end boards, in the center of which the goal is positioned.įrom, Creative Commons Attribution/Share-Alike License.noun The red line at the center of an ice hockey rink, running parallel to the goal lines and dividing the rink in half.noun A safety limit, as marked on a gauge.intransitive verb Computers To mark (edited text) by redlining.intransitive verb To remove from operational status because of mechanical defects or the need for scheduled maintenance.intransitive verb To practice redlining in (an area or community), as in declining to provide mortgages.intransitive verb Computers To mark or highlight edited text, as with a red line, to distinguish it from unedited portions of a document.intransitive verb To reach the maximum engine speed at which an engine is designed to be safely operated.intransitive verb To refuse to provide mortgages, insurance, or other goods or services to areas deemed a poor economic risk, particularly when the residents are nonwhite.Related ReadingsĬFI is the official provider of the global Financial Modeling & Valuation Analyst (FMVA)™ certification program, designed to help anyone become a world-class financial analyst.From The American Heritage® Dictionary of the English Language, 5th Edition. Eventually, the practice results in the destabilization of the urban community. The urban population becomes more segregated because residents of redlined neighborhoods tend to bond together and oppose other communities in order to overcome the harmful impact of the practice. In addition, redlining fosters the so-called hood culture in the affected areas. As a result, the redlined areas become underdeveloped while their residents become poorer. The practice hinders the economic development in neighborhoods populated by ethnic minorities since it paralyzes the housing market in the affected areas and limits the inflow of investments. Redlining adversely affects both the economic and social conditions in an urbanized area. Additionally, the Community Reinvestment Act bans all redlining practices in lending. For example, the Fair Housing Act in the United States protects housing buyers and renters from discriminatory practices that could be employed by sellers or landlords. Businesses are prohibited by law from denying services to customers based on the latter’s race or ethnicity. The discriminatory nature of redlining makes the practice illegal. In his study, McKnight identified that certain banks denied various financial services ( mortgages, student loans, credit cards) to people living in areas predominantly populated by African Americans. Using the term, McKnight described the discriminatory practice employed by banks when investments in certain neighborhoods were banned based solely on the demographics of the area. The term “redlining” was introduced by American sociologist J. However, there are other examples of such unethical practices associated with other services, including healthcare and retail. Redlining is typically associated with the denial to provide various financial services such as banking or insurance. Redlining neighborhoods in Philadelphia, 1937 (Source: Wikimedia Commons) The denial of services can be accomplished directly (e.g., prohibiting the granting of loans to a certain racial group) or indirectly (e.g., imposing higher interest rates for the borrowers from a certain racial group).įigure 1. In the United States and Canada, redlining is the discriminatory and unethical practice of systematic denial of providing services, particularly financial services, to residents of certain neighborhoods or communities associated with a certain racial or ethnic group.
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