Why We Need Robust Consumer Financial Protection

October 01, 2009

Original publication: Huffington Post

Date of publication: September 30, 2009

"The NAACP is very supportive of the creation of a strong and effective Consumer Financial Protection Agency with the protection of civil rights and a directive that it seek out and work to eliminate discrimination as a core part of its mandate. [...] in the American mortgage market predatory lenders have, for decades, targeted African American borrowers and other racial and ethnic minorities as well as the elderly with their nefarious products. [...] In fact, United for a Fair Economy estimates that people of color are 2 to 5 times more likely to receive a predatory loan than white borrowers."

Read Mr. Shelton's testimony in the Huffington Post.