New Orleans I swear there’s a shift suddenly in the recognition that poverty is a big freaking problem. Everywhere I turn in recent days commentators, columnists and reporters feel obligated to at least mention poverty and the poor either directly or euphemistically. In a cultural shift from recent decades, folks feel they should at least …
Category: Citizen Wealth
Wells Fargo Racial Steering and Discrimination Settlement with Justice Department
New Orleans The recently announced settlement between the Department of Justice and Wells Fargo Bank saw them pony up $174 Million to provide restitution to 34,000 customers because of racial discrimination in lending rates and steering them into toxic subprime rates caught my eye and brought me to full attention. This might be a case of …
Foreclosures for Seniors
New Orleans The AARP has issued an invaluable and depressing study meticulously collected from mortgage loan data in the available years since the housing crisis went full blown in 2007. The information seems radically different from the spinning popular mythology and the profile of the foreclosure victims among the chattering classes (including British bank regulator …