12-10-2019  5:11 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

San Francisco Aims to Rein in Tests of Tech Ideas on Streets

Entrepreneurs would not be allowed to test their products in San Francisco's public space unless the tech in question is declared a "net public good."

Portland-area Residents May Vote on Funding for Homeless

There may be a measure on the November 2020 ballot to fund likely hundreds of millions of dollars for increased social services

Black Food Professionals See Opportunities to “Scale Up” in School Cafeterias and on Store Shelves

Two Portland women are addressing disparities in the local food scene with Ethiopian and Haitian flavors, ingredients

Portland Fire Chief Sara Boone Climbing Historic Ladders

In 1995, Boone was the first African American woman hired by Portland Fire & Rescue; this year she became its first African American Chief

NEWS BRIEFS

EPA Approves Funding for Oregon and Washington to Improve Drinking Water, Wastewater Infrastructure

States estimate $190 million for wastewater, $35 million for drinking water projects in Oregon, and $120 million for...

Conservation Breakthrough for Endangered Butterfly

The Oregon Zoo's breeding success provides new hope in an effort to save Oregon silverspots ...

Meet 80 Local Authors at OHS 52nd Holiday Cheer Book Sale and Signing

This free Oregon Historical Society event will be held this Sunday, December 8 from 12 p.m. – 4 p.m. ...

Need for Blood Doesn’t Stop for Holidays – Donors Needed

Those who come to give through Dec. 18 will receive a Amazon.com Gift Card ...

North Carolina Court Decision Upholds Removal of Confederate Monument

Lawyers argued that the monument was installed at the end of Reconstruction to further the false “Lost Cause” narrative,...

Man gets jail, probation for strangling 85-year-old mom

PORTLAND, Ore. (AP) — A Portland man who violated a no-contact order and strangled his 85-year-old mother has been sentenced to six months in jail and two years of probation. The Multnomah County District Attorney's Office said 57-year-old James Keith was sentenced Tuesday. Keith assaulted...

M lawsuit claims meningococcal diagnosis delayed

PORTLAND, Ore. (AP) — An Oregon State University student who visited Portland-area medical providers amid a 2017 meningococcal outbreak at her Corvallis campus — but was not immediately diagnosed with the disease — has sued for million.The Oregonian/OregonLive reports then...

New Missouri coach Eli Drinkwitz predicts success

COLUMBIA, Mo. (AP) — Eli Drinkwitz was saying all the right things after being introduced as the new football coach at Missouri, laying out his vision for the once-proud program with unwavering confidence and bold proclamations.Then the former Appalachian State coach made a minor...

LSU's Burrow, Auburn's Brown named AP SEC players of year

LSU quarterback Joe Burrow is a unanimous selection as the offensive player of the year on The Associated Press All-Southeastern Conference football team.The top-ranked Tigers also have the SEC’s coach of the year in Ed Orgeron and the newcomer of the year in freshman cornerback Derek...

OPINION

Will You Answer the Call for Moral Revival?

In embracing and expanding the legacy of Dr. Martin Luther King, Jr., Revs. Barber and Theoharis have asked Presidential candidates to consider a debate that focuses exclusively on poverty ...

What I’m Thankful For This Season

Ray Curry gives thanks for a human right that shaped our country throughout the 20th century and that made Thanksgiving possible for so many Americans who, like him, didn’t get here by way of the Mayflower ...

Congressional Black Caucus Members Visit U.S.-Mexico Border: “Mistreatment of Black Immigrants is Another ‘Stain on America’”

Members said they witnessed first-hand the deplorable treatment and plight of Black immigrants ...

Portland, I'm Ready

Last month I had the privilege to stand with hundreds of supporters and announce my intention to run for re-election ...

AFRICAN AMERICANS IN THE NEWS

Trump to sign order targeting anti-Semitism at colleges

WASHINGTON (AP) — President Donald Trump will sign an executive order on Wednesday targeting antisemitism on college campuses, the White House said.The order, which is likely to draw criticism from free speech advocates, will broaden the federal government's definition of antisemitism and...

In South Carolina, Steyer investing in black voters

COLUMBIA, S.C. (AP) — In the waning weeks before South Carolina's presidential primary, Democrat Tom Steyer is renewing his focus on the black voters who play a pivotal role in the first-in-the-South state, rolling out a proposal to improve historically black colleges and institutions.The...

Multistate voter database suspended in lawsuit settlement

WICHITA, Kan. (AP) — A much-criticized database that checks whether voters are registered in multiple states has been suspended “for the foreseeable future” until security safeguards are put in place as part of a settlement of a federal lawsuit, a civil rights group said...

ENTERTAINMENT

Netflix says more than 26M watched 'The Irishman' in 7 days

NEW YORK (AP) — Netflix says that 26.4 million households worldwide watched “The Irishman” in its first week of streaming. That figure includes those who watched at least 70% of Martin Scorsese's 3 1/2 hour crime epic. Netflix selectively announces viewership for its films and...

NFL, NCAA football fuel Fox TV's win of the prime-time week

LOS ANGELES (AP) — Fueled by both college and pro football, Fox won a rare title as champ of the broadcast week among networks. Fox's Thursday night NFL airing of the Dallas Cowboys and Chicago Bears was the week's top show of any kind with 18.23 million viewers, and its broadcast of the Big...

The Associated Press picks the top moments on TV from 2019

NEW YORK (AP) — Many have noticed how fragmented our TV viewing is, with multiple competing streaming services and dozens of channels pulling us in different directions. But the year also saw some jaw-dropping moments that found huge audiences, whether it was a royal interview or a viral...

U.S. & WORLD NEWS

Adam Sandler on plunging into the Safdies' 'Uncut Gems'

TORONTO (AP) — Adam Sandler was waiting to be thrown into a midtown fountain on Sixth Avenue for a scene in...

Newspaper criticizes film's take on Olympic bombing coverage

ATLANTA (AP) — After a bomb exploded in a downtown Atlanta park midway through the 1996 Olympics, a...

Thousands rally around Holocaust survivor in Milan

MILAN (AP) — A Holocaust survivor who has been put under police protection due to anti-Semitic threats was...

In Mexico, effeminate Zapata painting draws fury

MEXICO CITY (AP) — A painting showing Mexican Revolution hero Emiliano Zapata nude and in an effeminate...

Parisians dodge strikes by logging on to share rides, bikes

ARGENTEUIL, France (AP) — Adrien Lachevre and Nailat Msoili live a few kilometers (miles) apart in Paris'...

Thousands rally around Holocaust survivor in Milan

MILAN (AP) — A Holocaust survivor who has been put under police protection due to anti-Semitic threats was...

McMenamins
Freddie Allen NNPA Washington Correspondent

WASHINGTON (NNPA) – Chevy Chase Bank agreed to pay $2.85 million to Black and Latino borrowers, following allegations of discriminatory home lending practices. The Maryland-based bank joins Wells Fargo and Bank of America as banking institutions that paid out million dollar settlements in class action lawsuits following the housing crisis.

According to the complaint filed by the Justice Department, Chevy Chase Bank steered  Blacks and Latino borrowers into home loan products that often cost more than loans that were offered to Whites with similar backgrounds. In 2009, Capitol One, N.A. purchased Chevy Chase Bank. The settlement covers loans initiated by Chevy Chase Bank and does not call into question Capitol One's mortgage lending practices.

In 2011, Bank of America agreed to pay $335 million to settle claims against Countrywide Financial Corporation of mortgage lending discrimination. Bank of America purchased Countrywide in 2008, a move that many industry insiders continue to question.

(The banks racial problem wasn't limited to mortgages. Last month. Bank of America Corp was ordered to pay $2.18 million to 1,147 Black job applicants because its discriminatory hiring blocked qualified candidates of color from getting jobs, the U.S. Department of Labor said on Monday.

An administrative law judge at the Labor Department, awarded back pay and interest to former candidates for teller and entry-level administrative and clerical positions Charlotte, N.C., the bank's national headquarters.

The judge ruled that Bank of America's "unfair and inconsistent selection criteria" led to the rejection of qualified Black job candidates. Approximately $1.22 million will  go to 113 people who were turned down for jobs between 2002 and 2005, and another $964,000 to 1,034 people who were turned away in 1993).

In 2012, Wells Fargo paid $175 million after brokers affiliated with the nation's largest mortgage lender were accused with discriminating against African American and Latinos who sought home loans from 2004 to 2009. Justice Department officials said that minority borrowers that were shuffled into subprime loans would receive an average of $15,000.

The subprime loan industry once seen as a gateway to homeownership is now often blamed for contributing to the greatest loss of African American wealth in history.

Subprime loans were five times more likely to occur Black neighborhoods compared to White neighborhoods, according to data from U.S. Department of Housing and Urban Development.

"A disproportionate number of subprime loans were made to African American borrowers who were otherwise eligible for prime loans. That was part of the problem," said Bernard Anderson, economist and former Assistant Secretary for the Employment Standards Administration at the Labor Department.

"These were people based upon their income their previous repayment record their [credit] score, should not have been given subprime loans but they were dragged into the subprime category because of the predatory lending practices of the financial institutions."

According to a study titled "Racial Segregation and the American Foreclosure Crisis" published in the American Sociological Review, foreclosures were often concentrated in those same neighborhoods where Blacks were targeted for subprime loans.

"Segregation therefore racialized and intensified the consequences of the American housing bubble. Hispanic and black home owners, not to mention entire Hispanic and black neighborhoods, bore the brunt of the foreclosure crisis," the report stated.

The Pew Research Center found that from 2005 to 2009 Black households lost 53 percent of their wealth compared to White households that lost 16 percent of their wealth.

"The single most important aspect in determining Black wealth was equity in their homes," said Anderson. "Most of the equity that African Americans had was bound up in their homes. The major factor determining equity was home price."

According to the Pew Research Center more than half of that wealth was wiped out during the housing crisis that rocked the American economy and led to the Great Recession.

The Pew report stated: "As a result of these declines, the typical black household had just $5,677 in wealth (assets minus debts) in 2009; and the typical white household had $113,149."

Jim Carr, a housing finance and urban policy consultant and distinguished scholar at Opportunity Agenda, a nonprofit, public policy and civil rights group, said that even as the housing industry recovers, many Black families that lost their homes will not reap the benefits.

"If a person lost their home, they're not getting their home back. That's what compensation means," he said. "If you lost $50,000 in equity in your home, does the settlement give you your $50,000 back? If you're getting $2000 or 3000 back, that's not compensation." William Spriggs, chief economist of the AFL-CIO, said it will take Blacks more than two decades to recover from the wealth lost during the housing crisis.

"We've lost ground we made in 90s," said Spriggs. Unemployment plummeted and incomes rose placing homeownership within the reach of many middle-class Black families. The housing crisis changed all of that, Spriggs stated.

"It's a very severe setback," he explained. "Wealth will be harder to come by, because of some policy changes that are being discussed. The path back looks a lot steeper."

Spriggs said that despite what many people believe, this crisis was not caused by people getting loans that they were not supposed to get.

"That wasn't true. The big problem was discrimination. [Blacks] weren't getting the favorable terms that were supposed to get and it's being documented now," Spriggs explained. "Had they given [Blacks] favorable terms, we wouldn't be having this crisis. This crisis exists because of the discrimination."

Spriggs continued: "These loans had bombs in them. If [Blacks and Latinos] had normal loans, none of this would have happened."

 

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