Thursday, June 11, 2009

Dr. Boyce Watkins: Wells Fargo Racism Accusations: Why they are disturbing

by Dr. Boyce Watkins

www.BoyceWatkins.com

Tavis Smiley needs to have a conversation with one of his primary sponsors, Wells Fargo. This week, it was announced that Wells Fargo is being sued by the city of Baltimore for egregiously racist predatory lending practices in the black community. The company has been accused by some former loan officers of targeting subprime, low quality loans to black neighborhoods, leading to a dramatic economic collapse for the black community of Baltimore.

The statistical evidence is daunting. Half of all the properties foreclosed by Wells Fargo are vacant and 71% of those properties are in black neighborhoods. Wells Fargo's African American borrowers with incomes greater than $68,000 per year were 8 times more likely to hold subprime loans than white borrowers with the same income.

Click to read.

4 comments:

Anonymous said...

I'd like to thank you for the efforts you have put in penning this website. I'm hoping to
view the same high-grade blog posts by you later on as well.
In truth, your creative writing abilities has
motivated me to get my very own site now ;)

My homepage - mountain coffee

Anonymous said...

I've been surfing on-line greater than three hours these days, but I by no means found any attention-grabbing article like yours. It is beautiful price enough for me. Personally, if all website owners and bloggers made good content as you probably did, the net can be much more useful than ever before.

Here is my homepage: www.ettlingen-oberweier.de

Anonymous said...

Hey there! Quick question that's totally off topic. Do you know how to make your site mobile friendly? My web site looks weird when viewing from my apple iphone. I'm
trying to find a theme or plugin that might be able to
resolve this problem. If you have any recommendations, please share.
Cheers!

Check out my web-site http://robotc.mx/

Anonymous said...

Hi there, just became alert to your blog through Google, and found that it's truly informative. I am going to watch out for brussels. I will be grateful if you continue this in future. A lot of people will be benefited from your writing. Cheers!

my page :: http://www.goldenrat.com/fast-products-for-modcloth-coupon-code-the-facts/