Final answer:
The practice of discrimination in lending policies based on location is known as redlining. Redlining refers to the intentional and discriminatory withholding of services or products, such as mortgages or loans, based on race or other factors.
Step-by-step explanation:
The practice of discrimination in lending policies based on location is known as redlining. Redlining refers to the intentional and discriminatory withholding of services or products, such as mortgages or loans, based on race or other factors.
Banks and lenders historically refused to issue loans to racial or ethnic minorities living in certain neighborhoods deemed 'hazardous' for investment, leading to significant divides in educational and financial opportunity. This practice continues to have lasting effects today.