NAACP Targets Discriminatory Lending Practices

Tennessean (07/03/08); Ross, Janell
The NAACP sought to bring more attention to the disproportionate number of African Americans with subprime or high-cost loans by declaring a national "Day of Action" against discriminatory lending practices. Branches in New York, Los Angeles, Baltimore, San Antonio, Nashville and 16 other cities participated in the event; and on July 11, the NAACP also plans to mark the one-year anniversary of its federal civil suit filed against 17 of the nation's largest mortgage lenders. The litigation claims that African-American borrowers that had the same incomes and credit histories as whites were 30 percent more likely to be offered a subprime or high-cost loan.