Why We Need Robust Consumer Financial Protection

"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.

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