Senator Parker Fights Against Mortgage Discrimination
New York, NY July 2, 2008-- On the NAACP’s National Day of Action, Senator Parker joined the NAACP Brooklyn Branch and other elected officials on the city hall steps to fight against discriminatory mortgage lending.
According to the NAACP and its lawsuit against 17 major lenders, African American borrowers were given loans with higher interest rates and other poor terms solely because of their race.
“Unfair and deceiving lending practices such as those alleged have contributed substantially to the foreclosure crisis within the 21st district,” said Sen. Parker. “Mortgage discrimination not only harms individuals and families who are struggling to afford their homes, but also counters my goal of ensuring that New Yorkers have jobs at living wages and benefits.
“Owning a home means much more than not paying rent. Home ownership is the key to building the wealth that pays for college, supports retirement, and is reinvested in communities,” said Hazel Dukes, President New York State Conference of Branches and National Board Member, NAACP.
The Day of Action was marked by events across the country, including in New York, Chicago, Baltimore, St. Louis, Detroit and Seattle. NAACP leaders, other elected officials and community members held events at lending institutions and in affected neighborhoods. These events highlighted the systemic discrimination against African Americans within the mortgage industry and to demand an end to it.
“Lending discrimination places minority homeowners at a significant disadvantage. Everyone, no matter what color of their skin, deserves access towards owning a home,” said Senator Parker.
About Senator Kevin Parker
Senator Kevin S. Parker is committed to restoring the overall quality of life for the constituents of the 21st Senatorial District in Brooklyn. A lifelong Brooklyn resident, Senator Parker has been a Flatbush resident for more than 27 years. Having been nurtured, schooled and employed in the district, Senator Parker is intimately familiar with the needs of this ethnically diverse community that consists of 311,000 constituents in several communities which include: Flatbush, East Flatbush, Midwood, Ditmas Park, Kensington and Borough Park.