Loans News

Bank of America discrimination settlement: A result of subprime swindle

By Ivory J. Johnson

8:50 AM on 12/22/2011

OPINION - Bank of America, who purchased Countrywide Financial Corporation in 2008, recently agreed to pay $355 million to settle charges that they discriminated against African-American and Hispanic borrowers...
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Bank of America settles discrimination allegations for $335 million

By theGrio

3:32 PM on 12/21/2011

NEW YORK (AP) - Bank of America has agreed to pay $335 million to resolve allegations that its Countrywide unit engaged in a widespread pattern of discrimination against qualified African-American and Hispanic borrowers...
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Unholy crisis: Black churches facing foreclosure

By Mashaun D. Simon

9:14 AM on 09/09/2011

theGRIO REPORT - Gone are the days when a faith-based institution or church could simply walk into a bank and make a loan request or an adjustment on an existing loan...
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Ethics committee reviews loans to NY Rep. Meeks

By theGrio

7:08 AM on 08/06/2011

WASHINGTON (AP) - The House Ethics Committee has dismissed an allegation that Rep. Gregory Meeks received an improper home equity loan last year...
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'Moving on up' isn't what it used to be for black families

By Michael Arceneaux

8:15 AM on 08/03/2011

OPINION - According to new analysis of census data, the most successful blacks and Latinos are more likely to have poor neighbors than their wealthier white counterparts...
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Why the black housing crisis is about to get worse

By Lynnette Khalfani-Cox

8:47 AM on 06/10/2011

OPINION - Unfortunately, for many blacks, the American dream of homeownership is quickly fading...
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Study shows dramatic decrease in mortgage loans to minorities

By Lynnette Khalfani-Cox

8:10 AM on 02/16/2011

theGRIO REPORT - Regardless of 'why' lending is down 62 percent collectively to blacks and Latinos, the fact is: this is an enormous problem...
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12/20/10 - theGrio & CNBC Market Update

By theGrio

8:10 AM on 12/20/2010

VIDEO - The Federal Reserve left its key interest rate-- which affects mortgage, credit card, and student loan rates unchanged -- in the zero to 0.25 percent range...
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12/13/10 - theGrio & CNBC Market Update

By Shartia Brantley

8:00 AM on 12/13/2010

VIDEO - President Obama and Republicans have a tentative deal to extend tax cuts for all Americans for two years as well as extend jobless benefits through 2011...
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Why we still need black-owned banks

By Monique W. Morris

8:27 AM on 11/22/2010

OPINION - Since the 19th Century, African-American-owned banks have played a vital role in the economic development of our communities...
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What the FICO? 5 things to avoid while fixing your credit

By Ash Cash

8:47 AM on 10/27/2010

OPINION - Your F.I.C.O. score is used by most lenders to determine whether or not you can obtain credit so using it the wrong way can definitely feel like a curse...
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Suit alleges Bishop Long defaulted on property

By theGrio

12:05 PM on 10/12/2010

Embattled Bishop Eddie Long took a hit Monday as a new suit was filed, ordering him and two others to pay $1.9 million for defaulting on a property loan...
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10/04/10 - theGrio & CNBC Market Update

By theGrio

7:39 AM on 10/04/2010

VIDEO - Last week investors wrapped up the third quarter and had quite a few data points to analyze...
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Small business lending measure clears filibuster

By theGrio

11:08 PM on 07/22/2010

WASHINGTON (AP) - A measure creating a $30 billion fund to help community banks increase lending to small businesses overcame a Republican filibuster Tuesday night in the Senate...
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Bill Clinton announces new $20M Haiti loan fund

By theGrio

2:20 PM on 06/17/2010

PORT-AU-PRINCE, Haiti (AP) - Money from the fund will be loaned to Haitian businesses that otherwise might not have access to capital in a nation that was already desperately poor before the earthquake...
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New study finds racism behind black-white wealth gap

By David A. Love

8:15 AM on 05/21/2010

ANALYSIS - The difference in financial assets between these two groups has increased over four times in a generation, from $20,000 in 1984 to $95,000 in 2007...
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Financial reform serving bankers, sticking it to consumers

By Michelle Bernard

8:05 AM on 05/11/2010

OPINION - The crash of 2008 illustrated the need for financial reform. But the legislation now pending before Congress isn't real reform...
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Lost mortgage papers erase homeowner's payments

By theGrio

12:00 PM on 05/10/2010

VIDEO - Corliss Gittens of Lakeview, New York, is officially a mortgage payment free homeowner thanks to lost bank paperwork...
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Gov't to unveil plan to shrink some home loans

By theGrio

8:48 PM on 03/25/2010

WASHINGTON (AP) - The Obama administration will announce Friday a plan to reduce the amount some troubled borrowers owe on their home loans, after months of criticism that it hasn't done enough to prevent foreclosures...
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Banks on verge of losing student lending business

By theGrio

4:05 PM on 03/24/2010

WASHINGTON (AP) - Industry lobbyists have watched helplessly as Democrats and the Obama administration this week appear on the verge of shifting student lending from private banks to the federal government....
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