Roland Martin
@rolandsmartin·1.9M subscribers·31.6K videos
'Abusive, Predatory' Auto Loans & Lack Of Access To Equitable Financial Services Add To Wealth Gap
Posted
May 2, 2019
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May 2, 2019
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10:08Now PlayingAfter last year’s GOP-led repeal of regulatory guidance on auto lending discrimination, Rep. Maxine Waters and House Democrats put the spotlight back on abusive and predatory auto loans.
Minority borrowers pay more because of pricing structures that give discretion to car dealers.
Kristen Clarke, President and Executive Director of the Lawyers' Committee for Civil Rights Under Law testified during Wednesday's hearing and explained that discriminatory lending practices as well as the "lack of access to equitable financial services contribute to and exacerbate this racial wealth gap."
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