Fifty years after the federal Fair Housing Act banned racial discrimination in lending, a study has found that modern-day redlining persists even when controlli...ng for applicants’ income, loan amount and neighborhood,
The homeownership gap between whites and African Americans is currently wider than it was during the Jim Crow era.
“You have a large debt, so you need to earn more money to pay that off. But you don't actually have the degree to get a job that will pay you more money. You're kind of just trapped.”
The average American payday loan customer spends five months of the year in debt and pays $520 in interest and fees. You can do better.
"To say that the U.S. economy relies on consumer spending to keep it humming justifies high levels of household debt as a trade-off for a booming economy." (from 2015)
The company could not immediately say how many jobs would remain at the Carlisle headquarters once the restructuring is completed.
"This is a robbery in progress."
"Of the 400 loans their auditor picked out for examination at random, none of them had the required documentation showing ownership."