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Another chapter in the foreclosure crisis: cities start fighting the targeting of Black homeowners.(NEWS)
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Colorlines Magazine
- Article date:
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July 1, 2008
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Copyright informationCOPYRIGHT 2008 Color Lines Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BALTIMORE FILED the first lawsuit in federal court where a city is accusing Wells Fargo, one of the nation's largest financial institutions, of predatory lending practices in violation of the Fair Housing Act. Three days after Baltimore's action in January, Cleveland also filed suit against 21 major financial institutions, charging the corporations with creating a public nuisance through subprime lending practices that have decimated already struggling city neighborhoods. In the national hysteria surrounding the subprime mortgage crisis, these lawsuits expose another chapter in the long history of racial discrimination in the housing and mortgage industry.
Ironically, the ...
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