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<a href="http://www.accessmylibrary.com/coms2/summary_0286-11549798_ITM" title="Facts and information about Predatory Lending: Citigroup's Higher Cost Home Purchase Loans Are Disproportionately to African Americans and Latinos, New Inner City Press Study Shows.">Predatory Lending: Citigroup's Higher Cost Home Purchase Loans Are Disproportionately to African Americans and Latinos, New Inner City Press Study Shows.</a>
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Predatory Lending: Citigroup's Higher Cost Home Purchase Loans Are Disproportionately to African Americans and Latinos, New Inner City Press Study Shows.
(From AScribe)
NEW YORK -- The nation's largest bank, Citigroup, is four times more likely to confine African Americans than whites to higher-cost home purchase loans, according to the just-released 2004 mortgage lending data. Inner City Press and Fair Finance Watch have reviewed the 2004 Home Mortgage Disclosure Act data of Citigroup and certain other lenders, including the new information concerning which loans are subject to a rate spread (3 percent higher than comparable Treasuries on a first lien, and 5 percent on a subordinated lien), and have found the following:
At Citigroup for home purchase loans, African Americans borrowers are more than ...
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