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Bill Dedman
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Bill Dedman
Bill Dedman is an American investigative reporter and author. He is best known for The Color of Money, his 1988 investigation of redlining of middle-income black neighborhoods by banks and other mortgage lenders. Dedman received the 1989 Pulitzer Prize for Investigative Reporting for his articles in The Atlanta Journal-Constitution.
Dedman is the co-author of the biography of reclusive heiress Huguette Clark and her family, Empty Mansions: The Mysterious Life of Huguette Clark and the Spending of a Great American Fortune, which was number one on The New York Times bestseller list and is being adapted into a television series for HBO.
Often relying on public records more than insider accounts, Dedman has reported and written influential investigative articles on racial profiling by police, illegal steering of customers to different neighborhoods by real estate agents based on the race of the customers, police officers who tried to stop abusive interrogations of detainees at the Guantanamo Bay detention camp,, and efforts to understand and prevent school shootings. His work includes one of the early examinations, in 1990, of the cover-up by the Roman Catholic Church of allegations of sexual abuse of minors by a priest.
In 1989, Dedman received the Pulitzer Prize for Investigative Reporting for The Color of Money, his series of articles in 1988 in editor Bill Kovach's The Atlanta Journal-Constitution on racial discrimination by banks and other mortgage lenders in middle-income black neighborhoods. The first stories in The Color of Money, published May 1–4, 1988, disclosed that Atlanta's banks and savings and loans, although they had made loans for years in even the poorest white neighborhoods of Atlanta, did not lend in middle-class or more affluent black neighborhoods. More than 60 articles followed. The focus moved to lenders across the nation with Dedman's January 1989 article, "Blacks turned down for home loans from S&Ls twice as often as whites."
As the Pulitzer committee wrote, Dedman's reporting "led to significant reforms.". In addition to raising awareness of redlining of minority areas, and leading Congress to expand disclosure of data allowing analysis of racial patterns in mortgage data, The Color of Money was an influential early example of computer-assisted reporting, now known more often as data journalism or data-driven journalism.
Prompted by The Color of Money, Congress expanded the federal Home Mortgage Disclosure Act to provide more information to the public on the pattern of activity by all mortgage lenders. The group Investigative Reporters and Editors published a guide for journalists on using HMDA data to analyze lending patterns.
The U.S. Justice Department responded to The Color of Money by focusing greater attention on unequal lending, suing a large savings and loan association in United States v. Decatur Federal Savings & Loan. In the first major case alleging a pattern or practice of racial discrimination in mortgage lending in the United States, the federal government alleged that Decatur Federal applied stricter underwriting standards to African-American applicants than to white applicants and devised ways to avoid dealing with African-Americans. In a consent decree, the bank agreed to pay $1 million to compensate 48 victims of discrimination and to take a series of corrective measures to ensure compliance with federal fair lending laws.
Banking regulators increased pressure on lenders to comply with the guidelines of the Community Reinvestment Act, which encourages deposit-holding financial institutions to make loans throughout their service areas. For the first time, regulators in 1989 denied an application for a bank merger on the grounds of poor performance under the Community Reinvestment Act.
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Bill Dedman
Bill Dedman is an American investigative reporter and author. He is best known for The Color of Money, his 1988 investigation of redlining of middle-income black neighborhoods by banks and other mortgage lenders. Dedman received the 1989 Pulitzer Prize for Investigative Reporting for his articles in The Atlanta Journal-Constitution.
Dedman is the co-author of the biography of reclusive heiress Huguette Clark and her family, Empty Mansions: The Mysterious Life of Huguette Clark and the Spending of a Great American Fortune, which was number one on The New York Times bestseller list and is being adapted into a television series for HBO.
Often relying on public records more than insider accounts, Dedman has reported and written influential investigative articles on racial profiling by police, illegal steering of customers to different neighborhoods by real estate agents based on the race of the customers, police officers who tried to stop abusive interrogations of detainees at the Guantanamo Bay detention camp,, and efforts to understand and prevent school shootings. His work includes one of the early examinations, in 1990, of the cover-up by the Roman Catholic Church of allegations of sexual abuse of minors by a priest.
In 1989, Dedman received the Pulitzer Prize for Investigative Reporting for The Color of Money, his series of articles in 1988 in editor Bill Kovach's The Atlanta Journal-Constitution on racial discrimination by banks and other mortgage lenders in middle-income black neighborhoods. The first stories in The Color of Money, published May 1–4, 1988, disclosed that Atlanta's banks and savings and loans, although they had made loans for years in even the poorest white neighborhoods of Atlanta, did not lend in middle-class or more affluent black neighborhoods. More than 60 articles followed. The focus moved to lenders across the nation with Dedman's January 1989 article, "Blacks turned down for home loans from S&Ls twice as often as whites."
As the Pulitzer committee wrote, Dedman's reporting "led to significant reforms.". In addition to raising awareness of redlining of minority areas, and leading Congress to expand disclosure of data allowing analysis of racial patterns in mortgage data, The Color of Money was an influential early example of computer-assisted reporting, now known more often as data journalism or data-driven journalism.
Prompted by The Color of Money, Congress expanded the federal Home Mortgage Disclosure Act to provide more information to the public on the pattern of activity by all mortgage lenders. The group Investigative Reporters and Editors published a guide for journalists on using HMDA data to analyze lending patterns.
The U.S. Justice Department responded to The Color of Money by focusing greater attention on unequal lending, suing a large savings and loan association in United States v. Decatur Federal Savings & Loan. In the first major case alleging a pattern or practice of racial discrimination in mortgage lending in the United States, the federal government alleged that Decatur Federal applied stricter underwriting standards to African-American applicants than to white applicants and devised ways to avoid dealing with African-Americans. In a consent decree, the bank agreed to pay $1 million to compensate 48 victims of discrimination and to take a series of corrective measures to ensure compliance with federal fair lending laws.
Banking regulators increased pressure on lenders to comply with the guidelines of the Community Reinvestment Act, which encourages deposit-holding financial institutions to make loans throughout their service areas. For the first time, regulators in 1989 denied an application for a bank merger on the grounds of poor performance under the Community Reinvestment Act.