ABSTRACT

How Invidious Discrimination Works and Hurts: An Examination of Lending Discrimination and Its Long-Term Economic Impacts on Borrowers of Color, Virtual Hearing Before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Seventeenth Congress, First Session, February 24, 2021   [open pdf - 16MB]

This is the February 24, 2021 hearing on "How Invidious Discrimination Works and Hurts: An Examination of Lending Discrimination and Its Long-Term Economic Impacts on Borrowers of Color," held before the U.S. House Subcommittee on Oversight and Investigations of the Committee on Financial Services. From the opening statement of Al Green: "Friends, lie on a mortgage application to secure a loan, and you are likely to get caught and criminally prosecuted for mortgage fraud, with jail time as a consequence. Lie as a loan originator to deny a loan to a person of color, and you are not likely to get caught, and if you do get caught, a civil monetary fine is likely the consequence, and little more than the cost of doing business. H.R. 166, the Fair Lending for All Act, provides the best tool available-testing-to catch, prosecute, and deter these predatory criminal lenders." Statements, letters, and materials submitted for the record include those of the following: Cheryl R. Cooper, William Darity, Jr., Frances Espinoza, and Lisa Rice.

Report Number:
Serial No. 117-5
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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