Leading US lenders accused of racism (Telegraph)
A group of 15 leading American mortgage lenders is being accused of racism over the way in which the banks lent money to black customers.
The mortgage banks – including Washington Mutual, Bear Stearns and JP Morgan Chase – are all named in a lawsuit filed by the National Association for the Advancement of Colored People (NAACP).
NAACP has recently filed paperwork to speed up the class-action lawsuit, in which it alleges that the banks steered black borrowers into taking predatory sub-prime loans.
