Businesses Owned By Blacks, Latinos Less Than Half As Likely To Be Approved For Loans Than Whites, Fed Says

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Black- and Latino-owned businesses were less than half as likely as white-owned firms to be fully approved for loan applications over the past year, the Federal Reserve said Thursday.

In this Wednesday, June 24, 2020, photograph, Kerri Thibodeau, of Stoughton, Mass., makes a purchase ... [+] at Pure Oasis, a Black-owned recreational marijuana dispensary, in the Grove Hall neighborhood of Boston. Many from outside Boston have recently shopped and supported the store which was robbed and vandalized earlier in the month. (AP Photo/Charles Krupa)

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