As we have noted for some time, "For blacks, the picture since the recession has been particularly grim. They disproportionately held subprime mortgages during the housing boom and are facing foreclosure in outsize numbers. That is raising fears among consumer advocates, academics and federal regulators that the credit scores of black Americans have been systematically damaged, haunting their financial futures." The Washington Post has a good article describing the problem.
And keep in mind that banks like "Wells Fargo targeted black communities for shoddy loans." Which means this did not have to happen.
Free market, indeed...
And keep in mind that banks like "Wells Fargo targeted black communities for shoddy loans." Which means this did not have to happen.
Free market, indeed...