Blacks in Memphis Lose Decades of Economic Gains

The combination of growing foreclosures and rising unemployment have destroyed black wealth and income and erased two decades of slow progress.

Blacks in Memphis Lose Decades of Economic Gains

Ten years ago, wasn't this newspaper leading the clamor that banks approved a lower proportion of home loans to blacks compared to whites because of racial discrimination? And that the banks were hiding behind "rules" that were antiquated? I believe "creative" solutions were called for. Make up your minds already!

What kind of "Creative"? Cheaper for the buyer was intended. Blame the mortgage "industry".

How is impending bankruptcy a gain? The "crash" was built in from the start.

Blacks in Memphis Lose Decades of Economic Gains

The combination of growing foreclosures and rising unemployment have destroyed black wealth and income and erased two decades of slow progress.

It is the presumption of wealth that bothers me.

Blacks in Memphis Lose Decades of Economic Gains

Ten years ago, wasn't this newspaper leading the clamor that banks approved a lower proportion of home loans to blacks compared to whites because of racial discrimination? And that the banks were hiding behind "rules" that were antiquated? I believe "creative" solutions were called for. Make up your minds already!

You know this is a troll. 0% Highlights.

"In a recent regulatory filing, Wells Fargo hinted that its legal troubles could multiply. “Certain government entities are conducting investigations into the mortgage lending practices of various Wells Fargo affiliated entities, including whether borrowers were steered to more costly mortgage products,” the bank stated."

Properly so.