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Mortgage Discrimination
Mortgage discrimination or ''mortgage lending discrimination'' is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion. Instances of mortgage discrimination occurred in United States inner city neighborhoods from the 1930s and there is evidence that the practice continues to a degree in the United States today.Study Finds Disparities in Mortgages by Race' The New York Times By MANNY FERNANDEZ Published: October 15, 2007 In the United States, banks practiced redlining or denial of financial services including banking or insurance to residents of areas based upon the racial or ethnic composition of those areas, either directly or through selectively raising prices. Prior to the passage of the 1974 Equal Credit Opportunity Act and Housing and Community Development Act, lenders and the U.S. federal government frequently and explicitly discriminated against female mor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loans
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Acti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NAACP
The National Association for the Advancement of Colored People (NAACP) is a civil rights organization in the United States, formed in 1909 as an interracial endeavor to advance justice for African Americans by a group including W. E. B. Du Bois, Mary White Ovington, Moorfield Storey and Ida B. Wells. Leaders of the organization included Thurgood Marshall and Roy Wilkins. Its mission in the 21st century is "to ensure the political, educational, social, and economic equality of rights of all persons and to eliminate race-based discrimination". National NAACP initiatives include political lobbying, publicity efforts and litigation strategies developed by its legal team. The group enlarged its mission in the late 20th century by considering issues such as police misconduct, the status of black foreign refugees and questions of economic development. Its name, retained in accordance with tradition, uses the once common term '' colored people,'' referring to thos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redlining
In the United States, redlining is a discriminatory practice in which services ( financial and otherwise) are withheld from potential customers who reside in neighborhoods classified as "hazardous" to investment; these neighborhoods have significant numbers of racial and ethnic minorities, and low-income residents. While the most well-known examples involve denial of credit and insurance, also sometimes attributed to redlining in many instances are: denial of healthcare and the development of food deserts in minority neighborhoods. In the case of retail businesses like supermarkets, the purposeful construction of stores impractically far away from targeted residents results in a redlining effect. Reverse redlining occurred when a lender or insurer targeted majority-minority neighborhood residents with inflated interest rates by taking advantage of the lack of lending competition relative to non-redlined neighborhoods. The effect also emerged when service providers artifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Racial Steering
Racial steering refers to the practice in which real estate brokers guide prospective home buyers towards or away from certain neighborhoods based on their race. The term is used in the context of ''de facto'' residential segregation in the United States, and is often divided into two broad classes of conduct: # Advising customers to purchase homes in particular neighborhoods on the basis of race # Failing, on the basis of race, to show, or to inform buyers of homes that meet their specifications. Overview Historically the United States of America has been defined by racially segregated neighborhoods.Thomas, June Manning "Planning History and the Black Urban Experience: Linkages and Contemporary Implications" Journal of Planning Education and Research Vol. 14 No. 1 (1994) 1 - 11. Urban planning up to the 1960s has been documented as one of the causes of this phenomenon. Urban planners have been seen to have practiced early forms of racial steering. Through the use of the res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Flight
Black flight is a term applied to the migration of African Americans from predominantly black or mixed inner-city areas in the United States to suburbs and newly constructed homes on the outer edges of cities. While more attention has been paid to this since the 1990s, the movement of black people to the suburbs has been underway for some time, with nine million people having migrated from 1960 to 2000. Their goals have been similar to those of the white middle class, whose out-migration was called white flight: newer housing, better schools for their children, and attractive environments. From 1990 to 2000, the percentage of African Americans who lived in the suburbs increased to a total of 39 percent, rising 5 percentage points in that decade. Most who moved to the suburbs after World War II were middle class. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil Rights Act Of 1866
The Civil Rights Act of 1866 (, enacted April 9, 1866, reenacted 1870) was the first United States federal law to define citizenship and affirm that all citizens are equally protected by the law. It was mainly intended, in the wake of the American Civil War, to protect the civil rights of persons of African descent born in or brought to the United States.Civil Rights Act of 1866 The Act was passed by Congress in 1866 and vetoed by United States President Andrew Johnson. In April 1866, Congress again passed the bill to support the Thirteenth Amendment, and Johnson again vetoed it, but a two-thirds majority in each chamber overrode the veto to allow it to become law without presidential signature. John Bingham and other congressmen argued that Congress did not yet have sufficient constitutional power to enact this law. Following passage of the Fourteenth Amendment in 1868, Congress ratified the 1866 Act in 1870. Primary objectives, introduction and amendment The act had thre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Housing Act
The Civil Rights Act of 1968 () is a landmark law in the United States signed into law by United States President Lyndon B. Johnson during the King assassination riots. Titles II through VII comprise the Indian Civil Rights Act, which applies to the Native American tribes of the United States and makes many but not all of the guarantees of the U.S. Bill of Rights applicable within the tribes. (that Act appears today in Title 25, sections 1301 to 1303 of the United States Code). Titles VIII and IX are commonly known as the Fair Housing Act, which was meant as a follow-up to the Civil Rights Act of 1964 (this is different legislation than the Housing and Urban Development Act of 1968, which expanded housing funding programs). While the Civil Rights Act of 1866 prohibited discrimination in housing, there were no federal enforcement provisions. The 1968 act expanded on previous acts and prohibited discrimination concerning the sale, rental, and financing of housing based on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Fair Housing And Equal Opportunity
The Office of Fair Housing and Equal Opportunity (FHEO) is an agency within the United States Department of Housing and Urban Development. FHEO is responsible for administering and enforcing federal fair housing laws and establishing policies that make sure all Americans have equal access to the housing of their choice. Mission The mission of FHEO is to create equal housing opportunities for all persons living in America by administering laws that prohibit discrimination in housing on the basis of race, color, religion, sex, national origin, disability, and familial status. Organisation FHEO consists of one headquarters office in Department of Housing and Urban Development building in Washington, DC and has ten regional offices across the country. The regional offices enforce fair housing laws; conduct training, outreach, and compliance monitoring; and work with state and local agencies to administer fair housing programs. The headquarters office is responsible for proposing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Occupy Homes
Occupy Homes or Occupy Our Homes is part of the Occupy movement which attempts to prevent the foreclosure of people's homes. Protesters delay foreclosures by camping out on the foreclosed property. They also stage protests at the banks responsible for the ongoing foreclosure crisis, sometimes blocking their entrances. It has been compared to the direct action taken by people to prevent home foreclosures during the Great Depression in the United States. History The late-2000s financial crisis resulted in the collapse of some large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in numerous evictions and foreclosures; in the U.S., 3.6 million homes have been foreclosed since August 2007. In 2008, a federal law termed the Troubled Asset Relief Program (TARP) was passed to spend 700 billion dollars to bail out banks. The law also specifically called fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wells Fargo
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board. The firm's primary subsidiary is Wells Fargo Bank, N.A., a national bank which designates its Sioux Falls, South Dakota site as its main office. It is the fourth largest bank in the United States by total assets and is also one of the largest as ranked by bank deposits and market capitalization. Along with JPMorgan Chase, Bank of America and Citigroup. Wells Fargo is one of the " Big Four Banks" of the United States. It has 8,050 branches and 13,000 ATMs. It is one of the most valuable bank brands. Wells Fargo, in its present form, is a resu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Racial Wealth Gap In The United States
Racial inequality in the United States identifies the social inequality and advantages and disparities that affect different races within the United States. These can also be seen as a result of historic oppression, inequality of inheritance, or racism and prejudice, especially against minority groups. There are vast differences in wealth across racial groups in the United States. The wealth gap between Caucasian and African-American families nearly tripled from $85,000 in 1984 to $236,500 in 2009. There are many causes, including years of home ownership, household income, unemployment, education, and inheritance. Under slavery in the United States, African Americans were treated as property. After the American Civil War, Black sharecroppers became trapped in debt. African Americans were rarely able to homestead. The Freedman's Bank failed, losing many Black assets. Exclusions from Social Security disproportionately affected African Americans. Savings were spent for retirement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Civil Liberties Union
The American Civil Liberties Union (ACLU) is a nonprofit organization founded in 1920 "to defend and preserve the individual rights and liberties guaranteed to every person in this country by the Constitution and laws of the United States". The ACLU works through litigation and lobbying, and has over 1,800,000 members as of July 2018, with an annual budget of over $300 million. Affiliates of the ACLU are active in all 50 states, the District of Columbia, and Puerto Rico. The ACLU provides legal assistance in cases where it considers civil liberties to be at risk. Legal support from the ACLU can take the form of direct legal representation or preparation of '' amicus curiae'' briefs expressing legal arguments when another law firm is already providing representation. In addition to representing persons and organizations in lawsuits, the ACLU lobbies for policy positions that have been established by its board of directors. Current positions of the ACLU include opposing the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
