Blacks, Banks and "Institutional Racism"::By Larry Elder
"As I drove through the city of Los Angeles on a lovely day, I listened to an interview on National Public Radio. I heard something disturbing. The NPR host interviewed a lawyer with the NAACP who said that he had filed a lawsuit against several banks.
Studies show, said the lawyer, that mortgage lenders charge black home loan borrowers higher rates of interest when compared with white borrowers. Even where whites and blacks have identical financial profiles, according to the lawyer, banks still charge blacks higher rates of interest. "
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