Janis Sarra

Predatory Lending and the Destruction of the African-American Dream (eBook, PDF)

• Format: PDF

Produktbeschreibung

Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 9. Juli 2020
• Englisch
• ISBN-13: 9781108857147
• Artikelnr.: 66188046

Autorenporträt

Janis Sarra is Professor of Law at the University of British Columbia, Peter A. Allard School of Law, and was the founding Director of the National Centre for Business Law. Over 100 superior and appellate court judgments have cited her books and publications in corporate, finance, securities and insolvency law. Dr Sarra is a member of the Canadian delegation to United Nations Commission on International Trade Law WG V.

Inhaltsangabe

1. Introduction
2. Foreclosure: at what cost and to whom?
3. Predatory lending practices prior to the global financial crisis
4. Predatory lending targeted African Americans
5. The implications of the collapse of the mortgage-backed securities market for consumer borrowers
6. A missed opportunity
7. Financial crisis reforms woefully inadequate
8. Incomplete justice: legal actions against predatory lenders
9. A subprime loan by any other name is just as predatory
10. 'Foregiveness', rather than forebearance or foreclosure
Appendix I.