Thursday, September 15, 2005

Fed Study Confirms Racial Lending Disparities

New York State Attorney General Eliot Spitzer says that a nationwide lending survey confirms the stark racial disparities in mortgage lending that his office has been investigating for six months. The study, conducted by the Federal Reserve Board, shows that African-Americans were far more likely than whites to receive high-cost loans, even after controlling for factors such as the borrower’s income. [ConsumerAffairs.com]

1 Comments:

Blogger MarKov said...

America needs Elliot Spitzer. Spitzer epitomizes the characteristics of a true leader in stark contrasts to what we see parading as public servants on the right. How remarkable an Attorney-General who is actually qualified for the job and does not cow-tow to corporate interests.

7:39 PM  

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