Blacks, Hispanics carry more debt

“African-American and Hispanic families are more likely to carry credit card debt and be under financial distress than whites, according to a study released Thursday by the Tom s Rivera Policy Institute, a Los Angeles think tank.

“Ethnic and racial minorities are particularly at risk because of their lower earning capacity, lower wealth holdings and relatively higher unemployment rates,” wrote Waldo Lopez-Aqueres, the primary researcher and author of the study.”

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