March 25, 2009
Page A5
L aw
J ustice
NAACP says Blacks Steered to Bad Loans
ing, said Austin Tighe, co
lead counsel for the civil
rights organization.
Tighe said African-Ameri
cans still were disproportion
Lawsuit
targets lenders
(AP) — The NAACP is
accusing Wells Fargo and
HSBC of forcing blacks into
subprime mortgages while
whites with identical qualifi
cations got lower rates.
C la ss-a c tio n law su its
were filed against the banks
March 13 in federal court in
Los Angeles.
The NAACP is seeking
refo rm s from the banks
such as increased transpar
ency in the loan process,
educational outreach and in
ternal training.
“It is time for these lend
ers to be held accountable,”
said NAACP President Ben
jamin Todd Jealous, “We look
& Co., called the lawsuit “to
tally unfounded and reck
less.” The bank is receiving
federal bailout funds.
"We have never tolerated,
It is time fo r these lenders to
be held accountable. We look
forward to forcing real change
and real relief through this
lawsuit. -BenJamlnTodd Jealous, NAACP President
Benjamin Todd Jealous
forw ard to fo rc in g real
change and real re lie f
through this lawsuit.”
Black hom ebuyers have
been 3 1/2 times more likely
to receive a subprime loan
than white borrowers, and
six times more likely to get a
subprime rate when refinanc
ately steered into subprime
lo an s w hen th eir c re d it
scores, income and down
payment were equal to those
of white homebuyers.
M elissa M urray, vice
president of corporate com
munications for Wells Fargo
and will never tolerate, dis
crimination in any way, shape
or form in any of our busi
ness practices, products, or
services,” Murray said.
An N A A C P m em ber,
Amara Weaver of Milwau
kee, said she was one of the
Similar NAACP lawsuits
are pending against a dozen
other subprime lenders.
“This is systematic, insti
tutionalized racism,” Tighe
said. “Once you take out fac
tors relative to income and
credit risk, the only differ
ence between the borrowers
is the color of their skin.”
Tighe estimated that “tens
of thousands” of blacks had
been forced into bad loans,
but said it was difficult to
gauge the scope of the prob
lem because banks keep
much of their internal data
private. The lawsuits could
force banks to divulge
closely guarded information,
such as how banks can de
termine the race of a loan
applicant and how federal
bailout funds are being spent.
Spring Break Scam Warning
CRIME STOPPERS
(5 0 3 ) 823-HELP 111 S.W. 2nd Avenue, Portland, Oregon
Crimes Stoppers Tracks Assault
Portland Police and Crime
Stoppers are asking for the
public’s help in identifying a
woman accused of beating
another woman at a New
Year’s Eve party.
On Jan. 1 at about 1:30 a.m.,
the 27-year-old victim was
dancing at the City Sports Bar,
424 S.W. Fourth Ave., when
the woman smashed her in the
face with a glass and began
beating her, police said. The
assault opened a cut on the
victim ’s face requiring 37
stitches to close.
Investigators believe the
suspect was with a group of
at least three other women.
She is described as a black
female in her 20s, medium
build, 5 feet two inches, wear
ing long curls. She might have
victims of predatory lending.
She bought her first home in
1984, receiving a 6.25 per
cent fixed-rate mortgage.
She says she had a steady
job as a human resources di
rector for a social services
agency, nev er m issed a
mortgage payment and main
tained excellent credit.
In 2004, she wanted to buy
the house next door for her
son to live in. She said the
bank prom ised her a low
fixed rate for a $40,000 loan,
but at the closing, when read
ing the fine print, she noticed
that the rate was actually 11
percent.
“I was blown away,” said
Weaver, an NAACP mem
ber. “1 didn’t have any choice
(but to sign). ... It made me
feel violated.”
a tattoo on her right upper
arm.
The suspect may have been
assisted by another black fe
male in her 20s who is about
4 feet six inches with a heavy
build, and straight black hair.
Police released a photo of the
suspect and her companion,
who may have been involved
or simply witnessed the as
sault, showing them as they
appeared at the club.
Crime Stoppers is offering
a cash reward of up to $ 1,000
for information, reported to
Crime Stoppers, that leads to
an arrest in this case, or any
unsolved felony, and you re
main anonymous. Call Crime
Stoppers at 503-823-HELP
(4357) or leave a tip online at
crimestoppersoforegon.com.
Oregon Attorney General
John Kroger is warning par
ents about scams that in
volve bogus stories about
kids on Spring Break getting
into car accidents, plane
crashes or going to jail after
police break up a wild party.
Con artists call in the middle
of the night and tell parents
that children on Spring Break
have been hospitalized or
jailed. Confused and worried
parents are told to wire money
to a “friend” to pay for medi
cal help or bail.
The scam m ers can ma
nipulate caller ID to make
their scam seem more legiti
mate.
Parents are told they must
immediately find a 24-hour
money transfer service. By
the time parents realize they
have been scam m ed, the
money and the scammers
are gone.
K roger says p arents
should pre-arrange ways to
easrly com m unicate with
their children while on Spring
Break either by cell phone
or through trusted adults or
friends on the same trip.
Platinum Fade
S A L O N
A photo provided by police shows a woman (left)
accused o f assaulting another woman at a New
Year’s Eve party, downtown. Police said her compan
ion (right) may have been involved or simply witnessed
the assault.
<
Prison Alternatives Cut Crime and Costs
A new national report with
data for the 50 states shows
that strong community su
pervision programs not only
cost significantly less than
incarceration but when ap
propriately resourced and
m anaged can cut re c id i
vism.
According to the study.
Advertise
with diversity
' 1 ^ lu rtla n h
© b fi'ru e r
( a ll 50jj288-()()33
states can cut both crime and
spending by reallocating
criminal justice system ex
penses to fund stronger su
pervision of the large number
of offenders in the commu
nity.
Diverting the offenders to
community supervision pro
grams also frees up prison
beds needed to house violent
offenders.
The study found that, in Or
egon, for every dollar the
state spent on prisons in
2008, the state spent 27 cents
on probation and parole.
“Violent and career crimi
nals need to be locked up, and
for a long time. But our re
Want the
lowdown on
nwer
search shows that prisons are
housing too many people who
can be managed safely and
held accountable in the com
munity at far lower cost,” said
Adam Gelb, director of the
Pew Center on the States’
Public Safety Performance
Project, which produced the
report.
We have the Best Barber & hair Stylist in Portland and
we do Razor Line Cuts, Weaves, Relaxers and Cuts
5010 NE 9th Unit A, Portland, Oregon 97221
503-284-2989
Hours
M -F
Sat
Sun
o f operation:
9 am - 6 pm
8 am - 9 pm
11 a m - 6 pm
Chiropractic Auto Injury Clinic, PC
Zchon R. Jones, DC
333 NE Russell St., #200, Portland, OR. 97212
(503) 284-7838
Truly making a difference in the lives of
Auto Accident victims and Injured Workers for 16 years.
If you or someone you know has been in an accident,
call us so we can help you with your needs. (503) 284-7838
are located on the
com er o f MLK and
Russell Street, on the
second floor above the
coffee shop.
W?
.KK@portland< ihserveru >i i i
To Place Your
Classified
Advertisement
Pa km« Atra
IH NF
Kundi
Contact: K a th y I ind er
Phone: 503 288 0033
Fax: 503)288 0015
Rimili SI
I
I