The credit crunch, unsurprisingly, hits Black folks the hardest - as do some of the ways that allegedly fix the problem:
One would think. Oh, President Obama?
Consider also the Credit Cardholders' Bill of Rights Act (HR 5244), which would require that many consumers pay -- upfront -- all fees assessed during the first year of a new account, before the card is even issued. Because an ability to pay over time makes such cards affordable for many consumers, this provision would effectively deny credit to millions of those whose rights such reforms are meant to protect.
Our government should protect every consumer -- regardless of race, religion or credit score -- from fraud and fly-by-night lenders. Policymakers should also promote a consumer credit market that helps people whose credit scores are less than stellar to bridge their way back to prime.
One would think. Oh, President Obama?
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