By Doug Miller
The study, Lost Ground, 2011,  found that low- and moderate-income African Americans and Latino Americans have suffered a disproportionate share of losses.

By Doug Miller
In the largest civil penalty it has ever issued, the Federal Reserve fined Wells Fargo & Co. $85 million to settle allegations that the San Francisco-based bank maneuvered borrowers into taking out costlier subprime home loans and falsified information on mortgage applications.

By Doug Miller
Black financial services customers all too often are part of a separate-but-unequal financial services economy.

By Doug Miller
The nation’s largest payday lender has agreed to pay nearly $19 million to more than 140,000 former customers in North Carolina as part of a settlement that closes a 2004 class-action suit alleging the company charged low-income borrowers annual interest rates exceeding 450 percent.

By Doug Miller Payday lenders – neighborhood operations where cash-strapped borrowers can go for small, short-term loans – contend they shouldn’t be facing the same kind of financial reform regulations as full-service banks. But critics who call high-interest payday transactions “legalized loan-sharking” say they disproportionately target minorities and need to be reined in along with [...]

By Doug Miller
Lending institutions in California have foreclosed on African-American and Latino homeowners nearly twice as much as white property owners, according to a new study by the Center for Responsible Lending (CRL), indicating that banks likely targeted those ethnic groups to receive more expensive and financially toxic subprime mortgages mortgages during the decade of the housing boom.

By Doug Miller
A tornado of foreclosures spawned by the subprime mortgage collapse has disproportionately flattened black and Hispanic homeowners, according to new research by the Center for Responsible Lending (CRL), sucking hundreds of billions of dollars in wealth from communities of color.

By Doug Miller
Are credit card penalties meant to serve as insurance against late payments, or are they just meant to serve bigger portions to money-hungry financial services companies

By Doug Miller
Payday lenders – neighborhood operations where cash-strapped borrowers can go for small, short-term loans – contend they shouldn’t be facing the same kind of financial reform regulations as full-service banks. But critics who call high-interest payday transactions “legalized loan-sharking” say they disproportionately target minorities and need to be reined in along with Wall Street giants.

By Doug Miller
Two subsidiaries of American International Group Inc. (AIG), the “ too big to fail” insurer that received one of the biggest slices of the federal financial services bailout, will pay more than $6 million to settle allegations that they discriminated against African Americans by charging them higher fees for mortgages transacted during a period from 2003 to 2006.