Is the United States' bankruptcy system another tool, a la the criminal legal system, for impoverishing non-white Americans? The quotation for today, on the other side of the jump, suggests that could be the case.
“Unfortunately I’m not surprised with these results. The same underlying issues that created the problem in mortgage lending, with minorities paying higher interest rates than their white counterparts having the same loan qualifications, are present in all financial fields.”
Neil Ellington
Neil Ellington is executive vice president of Consumer Education Services; a credit counseling agency in Raleigh, North Carolina.
Mr. Ellington's comments were part of a New York Times article on racially-based treatment of consumers filing for bankruptcy. You can read the complete New York Times article by following the link in the citation below.
Bernard, Tara Siegel. "Blacks Face Bias in Bankruptcy, Study Suggests." The New York Times 20 January 2012: online edition.
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