Colorlines

Results related to “Predatory lending”

How Public Policy Built The Racial Wealth Divide

How Public Policy Built The Racial Wealth Divide

by Seth Freed Wessler on May 3 2013, 11:55AM

Ta-Nehisi Coates writes on a foul 1950’s housing market practice that ropped black wealth and helped set the conditions for the current racial wealth gap.

Topics: /NOW

Unregulated Lenders Now Target Pensioners

Unregulated Lenders Now Target Pensioners

by Seth Freed Wessler on April 30 2013, 4:43PM

Predatory “pension advance” companies are hawking high interest loans to aging Americans. People of color are set up to take the worst hit.

Topics: Economy, /NOW

AARP: Black and Latino Seniors Losing Homes at Twice the Rate of Peers

by Kai Wright on July 19 2012, 1:28PM

An AARP poll shows 16 percent of borrowers over 50 are underwater, and that black and Latino homeowners are the hardest hit.

Topics: Economy, Kai Wright, /NOW

What’s in Your Wallet? Capitol One’s Predatory Lending, Apparently

by Kai Wright on July 19 2012, 12:05PM

Capitol One Bank has deceptively sold needless add-on products to credit card holders who are unemployed or have poor credit, according to the Consumer Financial Protection Bureau.

Topics: Economy, Kai Wright, /NOW

SunTrust Settles Lending Discrimination Suit for $21 Million‎

by Jorge Rivas on May 31 2012, 5:53PM

DOJ reaches $21 million settlement to resolve lending discrimination allegations by the nation’s 11th largest bank.

Topics: Economy, /NOW

Taxes, Poverty and Predatory Lending--a Knot That's Finally Unraveling

Taxes, Poverty and Predatory Lending—a Knot That’s Finally Unraveling

by Kai Wright on April 18 2012, 9:25AM

Throughout the so-called boom years, poverty was good business for tax preparers and the banks that financed their deceptive “refund anticipation loans.” That shady market is finally collapsing, but have banking regulators learned anything from it?

Topics: Economy, Kai Wright

What Obama's Elizabeth Warren Retreat Says About His Power Problem

What Obama’s Elizabeth Warren Retreat Says About His Power Problem

by Kai Wright on July 19 2011, 11:47AM

Warren’s had the two most important qualifications for the consumer protection job: power and influence. But the president likes to give away both, and so banks got their way, again.

Topics: Economy, Kai Wright

One In Five Default On Their Student Loans

One In Five Default On Their Student Loans

by Julianne Hing on July 13 2010, 4:58PM

And students of color are more likely to have debt they can’t pay from for-profit, career schools.

Topics: Schools & Youth

The Road Forward for Protecting Communities from Shady Lending

by Kai Wright on May 21 2010, 10:57AM

The Senate passed its financial reform bill yesterday with Sen. Chris Dodd’s consumer protection bureau intact. The contours of the debate over policing the products financial players push on communities didn’t change over the course of the drawn out fight….

Topics: Economy

White Wealth and Black Debt Shot Up in ‘Growth’ Years

by Kai Wright on May 17 2010, 3:22PM

The wealth gap between Blacks and Whites has grown by fourfold over the course of Generation X’s lifetime, exploding to $95,000, a study released today found. And the debt burden among African American families has nearly doubled. The study comes…

Topics: Economy

Will Banks Be Held Accountable to Communities? [Video]

by Kai Wright on May 3 2010, 10:41AM

Last week, Senate Democrats managed to get their financial reform bill past the Republican blockade. Floor debate on the bill, which would create a consumer protection bureau inside the Federal Reserve, will move forward this week, and the Senate’s…

Topics: Economy

Goldman Sachs Looks Slimy, But It’s Not Alone

by Kai Wright on April 27 2010, 4:00PM

Sen. Carl Levin’s series of hearings on Wall Street’s collapse reached their dramatic climax today, as Goldman Sachs executives sat in for their roles as national punching bags. Everybody from Levin to Sen. John McCain got in on the…

Topics: Economy

What’s at Stake in This Week’s Financial Reform Debate

by Kai Wright on April 26 2010, 9:10AM

The financial reform fight takes center stage on the Senate floor tonight, and likely all week. It is, of course, a dense, complicated and frankly boring bit of public policy. It’s also deeply consequential for communities of color everywhere. We’ll…

Topics: Economy

Obama’s Slow March Toward Foreclosure Relief

by Kai Wright on March 26 2010, 4:55PM

File it under better late than never: The White House has finally conceded that the foreclosure crisis will not ease until lenders start writing down principals. From the Obama administration’s start, consumer advocates and banking watchdogs have stressed that foreclosures…

Topics:

Montel Williams is the New Face of Predatory Lending

by Jorge Rivas on February 11 2010, 1:27PM

Since his partnership with that crazy psychic Sylvia Browne didn’t work out, Montell Williams now has a new venture with “payday loans” provider Money Mutual. According to Money Mutual: “When it comes to financial assistance Montel Williams understands that people…

Topics: Economy

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