America's biggest bank is benefiting from a loophole in the Community Reinvestment Act, a landmark law designed to fight racial discrimination in lending.

An analysis by Reveal from The Center for Investigative Reporting found JPMorgan Chase rarely lent to African Americans or Latinos in the Washington area, where a majority of residents are people of color.

Chase made more than 1,000 conventional home purchase loans in the area over two years. Only 23 of them went to black borrowers and 35 to Latinos.

But federal regulators aren't checking to make sure Chase is following community lending law in D.C. because its office in the district isn't technically a branch. The law kicks in only if a bank has a branch in a city that takes deposits.

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