Black News: Civil Rights Groups Issue Statement on Financial Reforms

17 Jun


WASHINGTON, June 16 /PRNewswire-USNewswire/ — A group of prominent civil rights organizations — including ACORN, Center for Responsible Lending, Lawyers’ Committee for Civil Rights Under Law, Leadership Conference on Civil Rights, NAACP, National Association of Consumer Advocates, National Coalition for Asian Pacific American Community Development, National Community Reinvestment Coalition, National Consumer Law Center (on behalf of its low-income clients), National Council of La Raza, National Fair Housing Alliance — joined together today to applaud the launch of the financial reform effort by Americans for Financial Reform. Americans for Financial Reform’s broad array of financial experts and advocates are joining together in an unprecedented campaign to reform our financial system and rebuild our economy.

Statement by civil rights groups:

"We applaud the work of Americans for Financial Reform, and are proud to join the effort to restore economic security by ensuring that financial institutions are accountable for their actions and promising that all Americans, no matter their race, ethnicity, disability, sex, age, or other protected class, are treated fairly. For years, the civil rights community has denounced the discriminatory business practices of financial industry players that have forced underserved borrowers to pay more for financial services while receiving less value and assuming enormous risks. As we modernize the financial regulatory system, we must ensure that the current two-tiered financial system is replaced with a transparent financial system that allows all Americans to build wealth equitably and fairly. When implemented, the strong recommendations made by Americans for Financial Reform will begin this important transformation."


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