Protesters march in 2015 past one of 17 predatory lending businesses in South Dallas, Texas. (Courtesy of Paul Malbrough)
Economy

Predatory Lending Rooted in Antebellum South: Study

WASHINGTON INFORMER — A doctoral student at the College of William & Mary in Williamsburg, Virginia, recently compiled evidence that traces predatory lending practices to the pre-emancipated South. In her research, Amanda Gibson found that in comparison to today’s standards, in the informal financial world of antebellum Virginia, African Americans were often as collateral for loans or sold to pay off debt. African-Americans were also sometimes participants in the personal side of pre-emancipation credit, usually taking out loans in pursuit of freedom. […read more]

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Business

Black Wealth Still Plummeting

PRECINCT REPORTER NEWS — “For households of color, the Great Recession erased the economic progress made over the past three decades in their entirety,” said Astrada. “If current trends continue, it will take 228 years for the average Black family to reach the level of wealth White families own today. For the average Latinx family, matching the wealth of White families will take 84 years.” […read more]

Op-Ed

Corinthian Colleges Fined $30 Million

By Charlene Crowell NNPA Columnist   Financially-troubled Corinthian Colleges, once one of the nation’s largest for-profit colleges, has a new financial hurdle: a $30 million fine. An April 14 order by the U.S. Department of Education followed its finding 947 documented incidents of misrepresentations on Read More

Op-Ed

Financial Shackles Still in Place

By Charlene Crowell NNPA Columnist   As the annual, month-long Black History observance begins, now is a timely moment to reflect on the journey that previous generations of Blacks have trod in the continuing quest for total freedom and equality. From 1865’s Emancipation Proclamation, to Read More

Op-Ed

Corinthian Colleges Told to Pay Up

By Charlene Crowell NNPA Columnist A college education is supposed to open the doors to life-long careers and entry into America’s middle class. Yet, students that enrolled at one of the more than 100 Corinthian College campuses across the country had college experiences characterized by Read More

Op-Ed

Predatory Lending Practices Continue to Weaken Blacks and Hispanics

By Charlene Crowell NNPA Columnist In the first report of its kind, the Center for Responsible Lending has examined consumer lending markets across-the-board and found that despite recent regulatory reforms – predatory lending continues to undermine American households trying to rebuild their finances after the Read More