he NAACP filed lawsuits Friday against two of the nation’s largest mortgage lenders — HSBC and Wells Fargo — alleging “systematic, institutionalized racism” in their subprime lending.
“We have targeted these banks because we have gone through what we can get our hands on, and it seems like there’s a real problem here,” NAACP CEO Benjamin Jealous told CNN.
Jealous said the group wants “transparency.” “We want to see the books,” he added. “We are not seeking damages; we just want them to fix the problem.”
Both companies denied the allegations.
Do YOU think mortgage lender targeted poor minorities, preying on their will to own a piece of the American dream? Let us know in comments!
Source: CNN
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