Subprime in Black and White
Evidence is mounting that during the housing boom, black and Hispanic borrowers were far more likely to be steered into high-cost subprime loans than other borrowers.
[Furman Center for Real Estate and Urban 4olicy].
In New York, Hispanic borrowers are three times more likely than White borrowers to receive subprime loans. African-Americans were also targets:
“Even after looking at neighborhoods of similar income levels, we find that if you're a black borrower, you're much more likely to take out a sub-prime loan than a white borrower."
What can librarians do?
1. Recommit to ALA Policy:
61. LIBRARY SERVICES FOR THE POOR.
2. Become Active in the Hunger, Homelessness & Poverty Task Force
3. Become economic advocates by distributing information and holding workshops on the Earned Income Tax Credit.
4. Read & Discuss Issues with library users:
Economic Justice Research Guide [Georgetown Law Library].
Economic Justice:Selections from "Distributive Justice" and "A Living Wage"
John A. Ryan.Beckley, Harlan R.ISBN: 0664256600
Westminster/John Knox Press,U.S.
Economic justice : race, gender, identity and economic / Emma Colman Jordan, Angela P. Harris.New York, N.Y. : Foundation Press,Thomson/West, c2005