Subprime lending market has “preyed upon” people who can’t afford loans

Posted by Staff on May 21, 2008 |

At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Maryland Councilmember Nancy Floreen says that the market has “preyed upon people who cannot afford the situations in which they’ve been led.”  She also says that the crisis has disproportionately affected minority communities, and said that blacks in Maryland are three times more likely than whites to receive a subprime loan, and Latinos are twice as likely as whites. (0:36)

 
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May 21, 2008
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One Response to “Subprime lending market has “preyed upon” people who can’t afford loans”

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