October 24, 2016

Wells Fargo Fraud Just The “Tip of the Iceberg” in Bank Culture

Businessman is writing a deposit slip.

According to University of North Florida management professors, the abuses occurring at Wells Fargo that recently resulted in mass firings, millions of dollars in fines and uncounted bad publicity are widespread and likely commonplace at major national banks. Based on an extensive five-year study of “sales culture” now prevalent in the banking industry, doctors Paul…

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October 10, 2016

Black Families Rejected for Home Loans at Drastically Higher Rates Than Whites in Chattanooga

Bank discrimination racism

As reported by the Chattanooga Times Free Press, a new study has revealed that black families in Chattanooga are awarded home loans at a tiny fraction of the rate loans are awarded to white families. “Chattanooga Organized for Action found in its report that from 2011-2014, predominantly black neighborhoods were lending deserts — barring families…

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August 17, 2016

Latinos, Blacks Still Face Housing Discrimination

Jumbo mortgages

BlackPressUSA.com reports on the pervasive erosion of wealth among families of color that continues more than half a decade past the recent “housing crisis.”

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August 15, 2016

Senator Tim Kaine on Making Housing Fair in America

Senator Tim Kaine

A heartfelt and stirring commentary on fair housing in America appeared August 12th on CNN written by Tim Kaine, United States Senator from Virginia and the Democratic candidate for vice president. Mr. Kaine’s piece reviews his own career fighting for fair housing and civil rights, touching back to his first case as a young lawyer…

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July 20, 2016

Race Strongly Influences Mortgage Lending in St. Louis, Study Finds

Blighted home

As reported by the New York Times, a new study indicates mortgage lending has played a strong role in reinforcing segregation in St. Louis. While Federal data indicates black neighborhoods of St. Louis have been “almost devoid of mortgage lending” in recent years, conventional thought was that the major reason for the dearth of lending was that incomes…

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June 28, 2016

Supreme Court will consider Miami discriminatory lending suits

United States Supreme Court Building

As reported by Housing Wire, the U.S. Supreme Court has announced that it will hear arguments during its 2017 term on whether the city of Miami can sue Bank of America and Wells Fargo for alleged unfair and discriminatory lending.

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June 3, 2016

Banks’ Embrace of Jumbo Mortgages Means Fewer Loans for Blacks, Hispanics

Jumbo mortgages

As the largest U.S. banks overhaul their loan operations in the wake of the last decade’s financial crises, many are shifting their focus to high-dollar “jumbo” mortgages. But as the Wall Street Journal (subscription) observes in an analysis of current financial regulation, “As they approve relatively more jumbos, major banks are granting fewer mortgages to…

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