The 1968 Fair Housing Act outlawed redlining nationwide. But the disastrous effects of the discriminatory practice are still contributing to today’s wealth gap between Black and White Americans.

“I think you see it in every city in America,” Atlanta councilman Amir Farokhi told CBS News’ Michelle Miller. “This is where the basis of segregated neighborhoods remains to this day.”

Farokhi represents a divided district in Atlanta — half the area is enjoying the bloom of reinvestment, while the other is still blighted. 

“We can draw a line kind of northwest to southeast, and most of the neighborhoods above that line are predominantly White and most beneath it are predominantly Black,” he said. “You are still living with generational divide and the wealth gap that happens because of that.”

The federal government began the practice of redlining in the 1930s, outlining areas deemed “hazardous” — often home to sizable Black, minority and immigrant populations. Based on that, mortgage lenders would deny loans to low-income minorities in those neighborhoods, causing disinvestment and placing home ownership out of reach for people of color.

Atlanta resident Kimberly Alexander said her family saw the inequity unfold firsthand along the city’s Auburn Avenue. 

“It was everything,” she said of the predominantly-Black area. “It was Black excellence. It was Black commerce.”

In its heyday a century ago, Alexander’s family business was a fixture there, until the area — and the country itself — began changing.

“There was a period of time after desegregation where businesses shuttered and left because they had opportunity elsewhere,” Alexander said. “And some people thought the grass was greener on the other side. And so unfortunately that left a lot of buildings plighted and the area plighted.”

Thus, the community was redlined. 

Many neighborhoods that were redlined like Auburn Avenue, deemed “hazardous,”

ICM Partners continued its European expansion with the purchase of London-based sports agency Stellar Group, the biggest acquisition in the 45-year history of the Hollywood talent agency.

Stellar, which ranked fourth last year in Forbes’ annual look at the world’s most powerful sports agencies, represents more than 800 athletes—mostly in soccer but also in track & field, cricket, rugby and the NFL—and manages current contracts totaling almost $3 billion, according to ICM.

“The world is becoming so interconnected and horizontal. The walls are all down with everything. It’s about evaluating talent and what kind of impact you can have with that talent,” says ICM CEO Chris Silbermann, who declined to disclose the price of the Stellar deal. “We feel we can apply a lot of the expertise we employ with celebrities and talent to athletes now as well. There is a natural fit.”

ICM is the smallest of the big four entertainment agencies, which also include WME, UTA and CAA. The Stellar deal heightens the competition with CAA, which launched its industry-leading sports practice 15 years ago. ICM represents stars Ellen DeGeneres, Beyoncé, Samuel L Jackson, J Cole and Khalid, as well as content creators Spike Lee, Shonda Rhimes and Vince Gilligan. With Stellar, it adds global soccer icon Gareth Bale and rising stars Saúl Ñíguez and Mason Mount to the mix.

Silbermann says they will be the foundation of a “multi-faceted” sports business that will be branded ICM Stellar Sports and will eventually include basketball, golf and tennis in the U.S., sports that are currently dominated by