Catherine P. Bessant of Dallas is the community investment executive for NationsBank. On May 11 she testified before Congress about the challenges facing banks that want to serve the inner cities. An excerpt from her testimony follows, beginning with a discussion of the Home Mortgage Disclosure Act.

The HMDA results reflected a number of factors which impact lending decisions. The primary reasons for turning down credit applications were identified as credit and employment history, value and condition of collateral, and debt-to-income ratios.

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