Regulators Quiet as Lenders `Targeted’ Minorities
Tagged: foreclosurePosted on: June 13th, 2007“The U.S. agencies that supervise more than 8,000 banks haven’t censured any of them for violating fair-lending laws, three years after Federal Reserve researchers began assembling data showing blacks and Hispanics are more likely than whites to be saddled with high-priced home loans.
Minorities stand to be hardest hit by rising delinquencies and foreclosures in subprime loans. While Census Bureau data show that homeownership rates rose to records among blacks in 2004 and among Hispanics in 2005, they still trail whites by 25 percentage points, and the gap may widen in the current bust.”
Curation from Tomás
Filed Under: 1. Hispanic News, Business, Real Estate, Top Stories
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