10-15-2019  2:37 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Hank Willis Thomas Exhibit Opens at Portland Art Museum

One of the most important conceptual artists of our time, his works examine the representation of race and the politics of visual culture

Grocery Workers Union Ratifies Contract with Stores

The United Food and Commercial Workers Union has agreed a three-year contract for stores in Oregon and Southwest Washington

PCC Weighing Community Input on Workforce Training Center, Affordable Housing in Cully

Portland Community College is compiling the results of door-to-door and online surveys

Lawsuit Filed Against Hilton Hotels in “Calling His Mother While Black” Discrimination Case

Jermaine Massey was ousted from the DoubleTree Hotel in Portland where he was a guest and forced to find lodging at around midnight

NEWS BRIEFS

Protesters Rally in Ashland to Demand 'Impeach Trump Now'

Activists are rallying in Ashland Sunday Oct, 13 to demand impeachment proceedings ...

Black Women Help Kick off Sustainable Building Week

The event will be held at Portland’s first and only “green building” owned and operated by African-American women ...

Voter Registration Deadline for the November Special Election is Oct. 15 

The Special Election in Multnomah County will be held on Nov. 5, 2019 ...

Franklin High School’s Mercedes Muñoz Named Oregon Teacher of the Year

In a letter of recommendation, Muñoz was referred to as “a force of nurture.” ...

Founder of Black Panther Challenge Creates Brand To Support Mental Health

The launch comes during Mental Health Awareness Week. The creators say they want people around the world to know that they aren’t...

Authorities identify 63-year-old man in hunting accident

LONGVIEW, Wash. (AP) — Oregon county authorities have identified the man killed in a suspected accidental shooting while hunting near Washington state lines.The Longview Daily News reports that Columbia County Sheriff's Office identified 63-year-old Martin Fox of Portland.County deputies,...

Name of man released in Portland suspicious death Monday

PORTLAND, Ore. (AP) — Portland police have released the name of a man who died of a gunshot wound Monday in North Portland.The Oregonian/OregonLive reports Ricky Malone Sr.'s death is being investigated as a homicide.Police say the man was found hurt during a welfare check Monday morning in...

Bryant bounces back to lead Missouri over Mississippi

COLUMBIA, Mo. (AP) — Last week, when he heard a pop in his left knee after being hit low, Missouri quarterback Kelly Bryant briefly saw his college football career pass before his eyes. The injury wasn't as bad as it looked, and Bryant played like his old self in a 38-27 victory over...

Missouri out to stop Ole Miss ground game in SEC matchup

Ole Miss coach Matt Luke has watched every game Missouri has played this season, and he was no doubt excited by the way Wyoming ran wild against the Tigers in their season opener.It should have portended good things for the Rebels' own vaunted rushing attack.But the more Luke looked at the video,...

OPINION

“Hell No!” That Is My Message to Those Who Would Divide Us 

Upon release from the South African jail, Nelson Mandela told UAW Local 600 members “It is you who have made the United States of America a superpower, a leader of the world" ...

Rep. Janelle Bynum Issues Response to the Latest Statement from Clackamas Town Center

State legislator questions official response after daughter questioned for ‘loitering’ in parking lot ...

Why Would HUD Gut Its Own Disparate Impact Rule?

"You can’t expand housing rights by limiting civil protections. The ’D’ in HUD doesn’t stand for ‘Discrimination’" ...

Despite U.S. Open Loss, Serena Williams Is Still the Greatest of All Time

Serena Williams lost her bid for what would have been her sixth U.S. Open Singles title ...

AFRICAN AMERICANS IN THE NEWS

Chief: Officer's Proud Boys membership didn't break policy

A Connecticut police officer's membership in the Proud Boys, a far-right group known for engaging in violent clashes at political rallies, didn't violate department policies, the town's police chief has concluded in response to a civil rights group's concerns.The East Hampton officer, Kevin P....

President of Bulgarian soccer resigns after fan racism, loss

SOFIA, Bulgaria (AP) — Criticized around Europe for the racist behavior of Bulgarian fans and under pressure from the country's prime minister following a run of poor results, the president of the country's soccer federation resigned on Tuesday.A few hours later, Bulgarian special police...

Money, hatred for the Kurds drives Turkey's Syrian fighters

BEIRUT (AP) — The Syrian fighters vowed to kill "pigs" and "infidels," paraded their Kurdish captives in front of cameras and, in one graphic video, fired several rounds into a man lying on the side of a highway with his hands bound behind his back.They are part of the self-styled Syrian...

ENTERTAINMENT

Only 3 returning big network shows see rise in live viewers

NEW YORK (AP) — ABC's sophomore drama "A Million Little Things," reality show "Shark Tank" and the Fox first-responders drama "9-1-1" have something in common that they can take pride in.Over the first three weeks of the television season, they are the only three of 49 prime-time shows...

AP Exclusive: Julie Andrews reflects on her Hollywood years

LOS ANGELES (AP) — Everyone is on their best behavior when Julie Andrews is around.It's early June in Los Angeles and Andrews is coming to film segments for a night of guest programming on Turner Classic Movies and speak about her new book, "Home Work: A Memoir of My Hollywood Years," which...

Gina Rodriguez apologizes for singing N-word lyric

NEW YORK (AP) — Gina Rodriguez has apologized for singing along on her Instagram story to a Fugees verse that includes the N-word.The "Jane the Virgin" actress deleted the short video she posted Tuesday and replaced it with her apology, but not before memes and other backlash ensued....

U.S. & WORLD NEWS

Mexico: Families of slain police angry, AMLO defends policy

MORELIA, Mexico (AP) — Grieving family members of the 13 police officers killed in an apparent cartel...

LeBron James no longer King James for Hong Kong protesters

HONG KONG (AP) — When the ball smashed into a photo of LeBron James' face stuck above the hoop and dropped...

12 Democrats meet for first debate since impeachment inquiry

WESTERVILLE, Ohio (AP) — Joe Biden is facing baseless but persistent allegations of wrongdoing overseas...

Haiti president breaks silence, says will not resign

PORT-AU-PRINCE, Haiti (AP) — President Jovenel Moïse broke his silence Tuesday and said it would be...

The Latest: Putin and Erdogan discuss situation in Syria

CEYLANPINAR, Turkey (AP) — The latest on Turkey's offensive in northern Syria (all times local):11:55...

Trump's sanctions won't bite a vulnerable Turkish economy

FRANKFURT, Germany (AP) — The sanctions the U.S. announced against Turkey this week over its offensive in...

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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