Civil Rights Groups Defending Predatory Lenders: Priceless. So what does Martin Luther King Jr. want to do with payday lenders?
Nada, but which hasnвЂ™t stopped African leaders that are american invoking their title as they shill for the credit industry.
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The president of the Southern Christian Leadership Conference (SCLC), took to the op-ed page of the Washington Post to decry the devastating effect the meltdown was having on minority homeowners at the end of June, as the subprime mortgage crisis was driving the economy into a tailspin, Charles Steele Jr. But instead than help presently pending measures to better control the credit areas, the top of 1 associated with the nationвЂ™s earliest civil liberties teams rather attacked them. Steele had been specially upset about a Federal Reserve proposition that will break straight down on subprime bank cardsвЂ”high-interest cards advertised to people who have bad credit.
Although the civil legal rights team was lauding its business partner, the us government has had a somewhat various view of CompuCreditвЂ™s efforts to financial empowerment.