#NNPA BlackPress
Waters: Buying A Car Should Be Fair, Transparent and Free of Discrimination
NNPA NEWSWIRE — “Buying a car is a significant purchase for many Americans and should be a fair and transparent transaction, free of discrimination. Unfortunately, this is not the case for persons of color. The National Fair Housing Alliance, in a test of auto lending discrimination, found that nearly two-thirds of minority loan applicants received higher cost financing options from automobile dealers than less qualified white applicants.
WASHINGTON – Today, at a Subcommittee on Oversight and Investigations hearing entitled, “Examining Discrimination in the Auto Loan and Insurance Industries,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following opening statement.
“Thank you, Mr. Chairman.
“Buying a car is a significant purchase for many Americans and should be a fair and transparent transaction, free of discrimination. Unfortunately, this is not the case for persons of color. The National Fair Housing Alliance, in a test of auto lending discrimination, found that nearly two-thirds of minority loan applicants received higher cost financing options from automobile dealers than less qualified white applicants.
“Last Congress, Republicans impeded enforcement of fair lending laws, making discrimination potentially worse. They used the Congressional Review Act to rescind the Consumer Financial Protection Bureau’s much needed guidance to indirect auto lenders on how to comply with the Equal Credit Opportunity Act.
“Discrimination also exists in the auto insurance industry. For example, the Consumer Federation of America found that auto insurers charge women and persons living in predominantly African American communities disproportionately higher premiums.
“These types of practices warrant Congressional scrutiny, analysis, and ultimately legislation.
“With that, Mr. Chairman, I yield back the balance of my time.”
#NNPA BlackPress
LIVE! — ASK ALMA — TUES. 5.30.23 7PM EST
This week, guest host Leah Farmer King and her panel share tips and advice to reader mail. Leah and the panel, along with the …
The post LIVE! — ASK ALMA — TUES. 5.30.23 7PM EST first appeared on BlackPressUSA.
This week, guest host Leah Farmer King and her panel share tips and advice to reader mail. Leah and the panel, along with the …
The post LIVE! — ASK ALMA — TUES. 5.30.23 7PM EST first appeared on BlackPressUSA.
#NNPA BlackPress
LIVE! — ASK ALMA! — TUES. 1.9.24 7 PM EST
HAPPY NEW YEAR! Welcome back for our first show of the year! This week, Alma and her panel answer viewer mail. As always …
The post LIVE! — ASK ALMA! — TUES. 1.9.24 7 PM EST first appeared on BlackPressUSA.
HAPPY NEW YEAR! Welcome back for our first show of the year! This week, Alma and her panel answer viewer mail. As always …
The post LIVE! — ASK ALMA! — TUES. 1.9.24 7 PM EST first appeared on BlackPressUSA.
#NNPA BlackPress
LIVE! — ASK ALMA! — TUES. 1.30.24 7PM EST
Think you’re the only one with problems? Each week, NNPA advice columnist Alma Gill, along with her panel of guest advisors …
The post LIVE! — ASK ALMA! — TUES. 1.30.24 7PM EST first appeared on BlackPressUSA.
Think you’re the only one with problems? Each week, NNPA advice columnist Alma Gill, along with her panel of guest advisors …
The post LIVE! — ASK ALMA! — TUES. 1.30.24 7PM EST first appeared on BlackPressUSA.
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