BlackPerspective.net
Discussing the Diaspora as seen through an internal Black lens
The National NAACP Finally Doing Something Worthwhile
July 15th, 2008
I have had (and completely stand by) plenty of criticism for the NAACP since the early days of this blog last spring. But I’m all about giving props where credit is due.
I’ve also mentioned many times one of the greatest manifestations of the systematic and embedded racism in this country is the fact that even when Blacks and Whites have the same credit portfolio and income; Blacks are still discriminated against inloan rates. This is a fact well proven to be routine and not isolated.
A couple of weeks ago the NAACP filed suit on this issue. I particularly like that they’re not asking for money; which though would definitely be justified, is strategically smart not to do. It keeps the focus on justice and correcting the issue, and removes the distractions or wrangling over monetary payouts and accusations of motivation being personal gain.
The lawsuit was filed last year, and earlier this month the NAACP held a “Day of Action” to highlight it and urge home owners to join the nationwide class action suit.
Here’s some snippets from some different articles:
NAACP Fights Mortgage Discrimination
By: Pat Warren
BALTIMORE (WJZ) ― The number of people caught up in adjustable rate mortgages is staggering and the NAACP wants to take lenders to task.
Pat Warren reports there were harsh words Wednesday for predatory lenders.
The Baltimore chapter of the NAACP joined the NAACP National Day of Mortgage Discrimination. The NAACP is suing 17 of the nation’s largest lenders for allegedly profiling African-Americans and systematically charging them higher interest rates.
“This is about the domestic, financial terrorism. This is about race and we join the NAACP in supporting the effort,” said one man.
The national NAACP lawsuit was filed last July. Maryland was one of the first states to address foreclosures with emergency legislation.
While the Maryland General Assembly did put laws in place to deal with predatory lenders, it did not address racial discrimination.
NAACP Urges Homeowners to Join Suit Over Unfair Lending
By Ovetta Wiggins
Washington Post Staff Writer
Thursday, July 10, 2008; Page PG10
The Prince George’s County branch of the NAACP is urging homeowners who think they have been victims of mortgage discrimination to contact the organization to become part of a federal lawsuit against lenders and banks.
The NAACP sued 17 of the country’s largest lenders last year, alleging discriminatory practices. The first hearing in the lawsuit is scheduled for the end of this month, NAACP officials said.
“The NAACP has compiled evidence which proves that when credit, income and other qualifications were equal, many African Americans received less favorable loan terms than similar-situated borrowers,” said June White Dillard, president of the county branch.
Ky Plaskon, Reporter
NAACP Files Class Action Mortgage Discrimination Lawsuit
More trouble for the already troubled mortgage industry today. The NAACP is filing a class action lawsuit and holding rallies in multiple cities, including Las Vegas, alleging discrimination based on race.
It was a very small group with a big message. The group wasn’t interested in disrupting operations. They just wanted to raise awareness about some pretty alarming discrimination statistics.
One of those statistics, according to a July 2007 report by Freddie Mac, African Americans pay 1.25 to 2.75-percent higher loan rates than white Americans who have the same credit scores and incomes. Today, the NAACP in its lawsuit is calling for banks to do something about it.
“I don’t know why this happens and that they know — it’s time for them to take steps to fix that. And if no one comes out here, then nothing is going to happen,” said Richard Boulward of NAACP.
That’s what NAACP members are raising awareness about in 16 cities regarding 17 lending institutions. The NAACP isn’t asking for any compensation in its lawsuit, just that the courts create a system for banks to monitor and stop the discrimination.
Discrimination in mortgage lending is prohibited by the Fair Housing Act. There are penalties between $11,000 and $55,000.
Now if the NAACP can spend more time focusing on stuff like this, rather than playing PR agent for multi-millionaire super star athletes; I can have more nice things to say about them.
posted in News & Events, Racial Injustice | | | View blog reactions |
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Yobachi Boswell is creator and publisher of BlackPerspecitve.net. I’m a writer, activist and political watcher based in Nashville, Tennessee. I’ve also been know to do some spoken word and MCing in my day.
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[...] Fargo to have done? Let’s go back. On July 15th of 2008 I posted an article entitled “The National NAACP Finally Doing Something Worthwhile.” In that article I state the [...]