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TAKE ACTION: Attorney General Eric Holder: Tell Wall Street to Stop Discriminatory Lending Practices


US Politics & Gov't  (tags: business, corporate, corruption, economy, dishonesty, finance, government, politics, money, lies )

Beverly
- 402 days ago - takeaction.takepart.com
Banks are still making large profits off risky mortgages. Demand Wall Street be held accountable.



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Comments

Beverly M. (86)
Sunday October 20, 2013, 2:00 pm
Under a landmark discrimination lawsuit, Morgan Stanley is being accused of violating the Fair Housing Act by pushing high-risk mortgage loans on African Americans. Individuals in low and middle-income communities in Detroit were especially vulnerable to this kind of activity. The federal Fair Housing Act prohibits discrimination based on race, color, sex, religion, handicap, or national origin.

Morgan Stanley and other Wall Street banks used discriminatory lending practices leading up to the housing crisis of 2008. These banks gave communities of African Americans an overwhelming amount of predatory loans loans that come with outrageous terms and conditions usually associated with unfair and deceptive lending practices.

Stand with the ACLU: demand all Wall Street banks that implemented discriminatory lending practices are held accountable!

 

Mary T. (318)
Sunday October 20, 2013, 2:27 pm
You have added your voice to Tell Wall Street to Stop Discriminatory Lending Practices - thank you Beverly
 

Alan Lambert (97)
Sunday October 20, 2013, 2:31 pm
Signature 348 and noted
 

Bridget Robertson (106)
Sunday October 20, 2013, 6:14 pm
Noted and signe.
 

annie statton (373)
Sunday October 20, 2013, 6:46 pm
Noted thanx.
 

Barbara V. (182)
Sunday October 20, 2013, 7:39 pm
Signed & noted, Thanks
 

Susanne R. (249)
Sunday October 20, 2013, 11:42 pm
An excerpt from article on the American Civil Liberties Union Website:

"There is a direct line connecting Wall Street to the discriminatory lenders who caused so much damage to communities of color. Many of the worst lenders folded when the housing bubble burst, but their enablers in the securities market mostly remain in business. The harm they caused will run deep and threatens to exacerbate existing racial disparities, damage that may play out over the course of generations. The response, therefore, must address all of the actors who contributed to discriminatory lending. Going forward, fair lending rules must ensure that Wall Street pays a price when it makes discrimination profitable."

Isn't this a function of the Consumer Financial Protection Bureau? I know that the GOP has fought the creation of this agency tooth and nail in an attempt to protect Wall Street banks, but it is up and running and has made significant progress in dealing with these issues. I hope consumers are consulting with this agency before they "sign on the dotted line."

Signed and noted.
 

Frances Darcy (224)
Monday October 21, 2013, 1:01 am
done
 

Helen Porter (40)
Monday October 21, 2013, 1:33 am
noted and signed
 

Angelene B. (146)
Monday October 21, 2013, 1:36 am
signed
 

Elena Bonati (35)
Monday October 21, 2013, 1:59 am
Signed and noted. TY
 

AniMae Chi (428)
Monday October 21, 2013, 2:22 am
You have added your voice to Tell Wall Street to Stop Discriminatory Lending Practices
363 supporters. 2,500 needed!
 

kelly s. (134)
Monday October 21, 2013, 4:07 am
signed thank u for sending.
 

John Holton (362)
Monday October 21, 2013, 4:37 am
signed and noted
 

Mari 's (1364)
Monday October 21, 2013, 7:08 am
I'd like to tell wall street to stop MANY things! They are so corrupt and greedy!!
 

Ed V. (184)
Monday October 21, 2013, 8:44 am
Signed & Noted, Thanks
 

Neill Abayon (718)
Monday October 21, 2013, 8:47 am
Noted, shared and signed.
 

Bryna Pizzo (139)
Monday October 21, 2013, 8:48 am
Thank you! (s, n, p, t)
 

. (0)
Monday October 21, 2013, 8:49 am
Signed and noted thank to Beverly and Rhonda
 

Esther Z. (96)
Monday October 21, 2013, 10:50 am
Noted and signed.
 

Constance F. (430)
Monday October 21, 2013, 12:26 pm
You have added your voice to Tell Wall Street to Stop Discriminatory Lending Practices
 

Gabriella Serafino (96)
Monday October 21, 2013, 2:16 pm
signed.
 

Natasha Salgado (563)
Tuesday October 22, 2013, 8:25 am
Done!
 

. (0)
Wednesday October 23, 2013, 8:29 am
𝕾𝖎𝖌𝖓𝖊𝖉 𝖆𝖓𝖉 𝖓𝖔𝖙𝖊𝖉. 𝕿𝖍𝖆𝖓𝖐𝖘 𝕭𝖊𝖛𝖊𝖗𝖑𝖞!
 

Hugo L. (267)
Saturday November 9, 2013, 3:35 pm
Noted & signed, thanks Beverly
 

Yvonne F. (177)
Monday January 20, 2014, 10:11 am
Signed, even though I am not American! But I do support you!
Thanks Beverly
 
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