December 20, 2016

Wells Fargo Reportedly Soon to Receive Negative Community Lending Evaluation

Bank Foreclosures

Reuters reports that Wells Fargo is on the verge of receiving a significant negative evaluation on an important national rating for community lending, according to U.S. bank regulators. The new rating “could limit near-term expansion of the bank,” according to the news organization.

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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 4, 2016

Anton Scalia, Impediment to Justice

The U.S. Supreme Court looks up

The Atlantic has published “How Scalia Made It Difficult to Bring Cases to Court,” a lengthy examination of late Justice Anton Scalia’s tenure on the Supreme Court — mostly a pattern and practice of defending the rights of the wealthy and corporations at the expense of minorities and the underprivileged. His surviving co-justices are now…

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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 29, 2016

Supreme Court to Decide Whether City of Miami Can Sue Big Banks Over Discriminatory Lending

United States Supreme Court

In 2013, the city of Miami, Florida sued Bank of America, Wells Fargo, and CitiGroup for what it termed a continuous pattern of mortgage discrimination. The city alleged the banks steered black and Hispanic applicants into high risk mortgages (higher risk than the mortgages the banks provided to similarly-positioned white applicants) even if the minority…

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