Predatory Lending and the Destruction of the African-American Dream

List of contents

1. Introduction; 2. Foreclosure: at what cost and to whom?; 3. Predatory lending practices prior to the global financial crisis; 4. Predatory lending targeted African Americans; 5. The implications of the collapse of the mortgage-backed securities market for consumer borrowers; 6. A missed opportunity; 7. Financial crisis reforms woefully inadequate; 8. Incomplete justice: legal actions against predatory lenders; 9. A subprime loan by any other name is just as predatory; 10. 'Foregiveness', rather than forebearance or foreclosure; Appendix I.

About the author

Janis Sarra is Professor of Law at the University of British Columbia, Peter A. Allard School of Law, and was the founding Director of the National Centre for Business Law. Over 100 superior and appellate court judgments have cited her books and publications in corporate, finance, securities and insolvency law. Dr Sarra is a member of the Canadian delegation to United Nations Commission on International Trade Law WG V.Cheryl Wade is the Dean Harold F. McNiece Professor of Law at St. John's University School of Law, New York. A member of the American Law Institute, Professor Wade has written over twenty-five book chapters and law review articles exploring the intersection of race, law and business.

Summary

This examination of the economic exploitation of African Americans focuses on predatory lending, the racial discrimination underpinning the subprime market collapse, and failed reform efforts aimed at redressing the harms. It will interest financial law scholars, critical race theorists, economists, and anyone concerned about the racial wealth gap in America.

Additional text

'Through personal narratives and critical race analysis, this book challenges preconceived notions of the causes of the 2008 foreclosure crisis.' Leonard M. Baynes, University of Houston

Product details

• Authors: Janis Sarra, Janis Wade Sarra, Sarra Janis, Cheryl Wade, Cheryl L Wade, Cheryl L. Wade
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Paperback / Softback
• Released: 30.06.2020
• EAN: 9781108811583
• ISBN: 978-1-108-81158-3
• No. of pages: 220
• Subjects: Social sciences, law, business > Law > General, dictionaries; USA, LAW / General, Social discrimination & inequality, United States of America, USA, Ethnic groups and multicultural studies, Ethnic minorities & multicultural studies, Constitution: government & the state, Legal Ethics & Professional Conduct, Legal ethics and professional conduct, Constitution: government and the state, Banking law, Social discrimination and social justice, Relating to African American / Black American people, Legal system: costs & funding, Legal systems: costs and funding