New Orleans I woke up to headlines indicating that the National Fair Housing Alliance has accused Minneapolis-based U.S. Bank of effectively “red lining” blight into largely African-American and Latino neighborhoods in 35 different cities in 15 metropolitan areas. Recently the alliance added New Orleans, Dallas, New Haven, and Hampton Roads, Virginia to an amended complaint [...]
New Orleans One of the many unresolved issues from the Great Recession, still painfully winding down, is whether or not it is time to call the dream of home ownership for low-and-moderate income families a tragic mirage. Having wiped out a generation of increased ownership among African-Americans and Hispanic families, and lacking a concerted funding [...]
New Orleans No matter how many billions banks pay to try to whitewash their devastatingly destructive behavior in milking home owner mortgages and turning homeowners every way but loose, they can’t make the mess go away. The stains and scandals are indelible and their refusal to change their culture or their standard operating practices guarantees [...]
New Orleans A frequent theme in the years leading up to the complicated and star crossed rollout of the Affordable Care Act or Obamacare among the pundits, editorial writers, and commentators tried to nick the President for his weak kneed efforts to “sell” the program to the American public. Reading Cornell Professor Suzanne Mettler’s Submerged State: [...]
Toronto After years of big banks essentially flipping off their customers and borrowers fighting foreclosures in no small measure because banks were more than willing to take the money and run on the government’s bailout, but were heedless of the damage they were doing to their borrowers’ lives and communities, Gretchen Morgenston in the New York [...]
New Orleans The new Consumer Financial Protection Bureau (CFPB) released its outline of new mortgage lending rules that will take effect in 2014. The new rules are interesting, though in some ways not reassuring.
After years of arguing with big banks and subprime houses that “affordability” had to be the key test regardless of all of [...]