The incidence of misselling, fraud, and poor customer service by retail banks is significantly higher in areas with higher proportions of poor and minority borrowers and in areas where government regulation promotes an increased quantity of lending. Specifically, low-to-moderate-income (LMI) areas targeted by the Community Reinvestment Act have significantly worse outcomes, and this effect is larger for LMI areas with a high-minority population share. The results highlight an unintended adverse consequence of such quantity-focused regulations on the quality of credit to lower-income and minority customers.

中文翻译：

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颜色和信誉：种族，监管和金融服务质量

在贫困和少数族裔借款者比例较高的地区，以及在政府监管促进贷款数量增加的地区，零售银行的误导，欺诈和不良客户服务的发生率要高得多。特别是，《社区再投资法》所针对的中低收入（LMI）地区的效果明显较差，对于人口少数族裔较高的LMI地区，这种影响更大。结果表明，这种以数量为中心的法规对低收入和少数族裔客户的信贷质量产生了意想不到的不利后果。