Subprime and Predatory Mortgage Lending
Subprime mortgage lending refers to home loans made to borrowers who do not meet the requirements for competitive, prime loans. These loans, designed for those with “blemished” or “limited” credit histories (FICO score of 620 or less), tend to be associated with higher interest rates—often in the form of adjustable rate mortgages (ARMs)—and tend to be more costly over time. [ Read More]
Payday Lending
A payday loan, sometimes called a paycheck advance, is a small, short-term loan that allows an individual to borrow against his or her next paycheck. To obtain such a loan, the person must leave a check with the lender for the amount of the loan, plus any fees, to be held until the next payday. [ Read More]
Usury: The Impact of Credit Card Debt and High Interest Rates on African American Wealth
American families are turning to high-cost credit cards to keep afloat given the volatile and crippling economy. In 2008, Americans owed approximately $850 billion in revolving credit card debt, and 73 percent of all American households had credit cards, 60 percent of which carried a balance.
[ Read More]
Student Loan Debt and College Access
Despite the individual, economic, and social benefits of higher education, students face high stakes in financing a college degree. Over the last 20 years, students have relied heavily on undergraduate student loans to supplement grant aid as the principle vehicle for financing their college education. Such increased dependency on student loans has resulted in a growing number of indebted graduates entering the workforce.[ Read More]
The NAACP is dedicated to accelerating economic growth in our communities and eliminating existing racial and ethnic economic disparities.
CURRENT INITIATIVES
Financial Empowerment Initiative (FEI)
Bureau of Labor Statistics
Federal Reserve Board
National Labor Relations Board
U.S. Census Bureau
U.S. Department of Housing and Urban Development
U.S. Department of Labor
U.S. Department of the Treasury
U.S. Equal Employment Opportunity Commission
Q: What should I do if I feel I’ve been the target of employment discrimination?
A: You should consult a private or Legal Aid attorney as soon as possible. In the meantime, you should file a report through the Human Resources Department at your workplace, file an Equal Employment Opportunity Commission (EEOC) complaint within 180 days of the alleged wrongful action, and contact your local NAACP Branch Office for further assistance.
Q: Does the NAACP provide grants to start-up businesses
A: No, the NAACP does not provide financial grants; however we do offer educational workshops to provide you with information about starting a business
Q: Does the NAACP provide down payment assistance to first-time home buyers?
A: No, the NAACP does not provide financial assistance for homebuyers; however, we do offer educational workshops to provide you with information about the home buying process.
Dawn C. Chase, National Fairness & Opportunity Manger
NAACP National Headquarters
Fairness & Opportunity Department
4805 Mt. Hope Dr.
Baltimore, MD 21215
Tel: 410-580-5777
NAACP National Headquarters
4805 Mt. Hope Drive
Baltimore MD 21215
Toll Free:
(877) NAACP-98
Local:
(410) 580-5777
© 2009 NAACP
All Rights Reserved