Tag: banks

Rep. Maxine Waters seeks to protect consumers with ‘Megabank’ bill

Rep. Maxine Waters seeks to protect consumers with ‘Megabank’ bill

| October 19, 2017

By Freddie Allen (Editor-In-Chief, NNPA Newswire) In an effort to rein in financial institutions that have track records for harming consumers, Rep. Maxine Waters (D-Calif.) recently unveiled The Megabank Accountability and Consequences Act (H.R. 3937). The new bill would require, “prudential banking regulators, such as the Office of the Comptroller of the Currency, the Federal […]

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Swiss, Russian banks blamed for catastrophic ‘iceberg of debt’ in Mozambique

Swiss, Russian banks blamed for catastrophic ‘iceberg of debt’ in Mozambique

(GIN)—Banks that saw dollar signs in the developing economies of Africa are being blamed for a looming fiscal crash in Mozambique over so-called “tuna bonds.” Emblematic of the easy lending by western banks, 24 fishing boats meant to be a modern tuna fleet are gathering rust in the port of Maputo. The boats were paid […]

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Banks caught redlining black communities

Banks caught redlining black communities

| October 29, 2015

By Charlene Crowell NNPA Columnist The old adage, ‘the more things change, the more they stay the same’ seems somehow an apt description for what a growing number of communities are suffering: a lack of fair lending. In recent weeks and in varying locales, the issue of redlining has led to lawsuits that have been […]

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