What Obama’s Elizabeth Warren Retreat Says About His Power Problem

by Kai Wright on July 19 2011, 11:47AM

Warren’s had the two most important qualifications for the consumer protection job: power and influence. But the president likes to give away both, and so banks got their way, again.

Topics: Economy, Kai Wright

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One In Five Default On Their Student Loans

by Julianne Hing on July 13 2010, 4:58PM

And students of color are more likely to have debt they can’t pay from for-profit, career schools.

Topics: Schools & Youth

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The Road Forward for Protecting Communities from Shady Lending

by Kai Wright on May 21 2010, 10:57AM

The Senate passed its financial reform bill yesterday with Sen. Chris Dodd’s consumer protection bureau intact. The contours of the debate over policing the products financial players push on communities didn’t change over the course of the drawn out fight….

Topics: Economy

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White Wealth and Black Debt Shot Up in ‘Growth’ Years

by Kai Wright on May 17 2010, 3:22PM

The wealth gap between Blacks and Whites has grown by fourfold over the course of Generation X’s lifetime, exploding to $95,000, a study released today found. And the debt burden among African American families has nearly doubled. The study comes…

Topics: Economy

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Will Banks Be Held Accountable to Communities? [Video]

by Kai Wright on May 3 2010, 10:41AM

Last week, Senate Democrats managed to get their financial reform bill past the Republican blockade. Floor debate on the bill, which would create a consumer protection bureau inside the Federal Reserve, will move forward this week, and the Senate’s…

Topics: Economy

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Goldman Sachs Looks Slimy, But It’s Not Alone

by Kai Wright on April 27 2010, 4:00PM

Sen. Carl Levin’s series of hearings on Wall Street’s collapse reached their dramatic climax today, as Goldman Sachs executives sat in for their roles as national punching bags. Everybody from Levin to Sen. John McCain got in on the…

Topics: Economy

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What’s at Stake in This Week’s Financial Reform Debate

by Kai Wright on April 26 2010, 9:10AM

The financial reform fight takes center stage on the Senate floor tonight, and likely all week. It is, of course, a dense, complicated and frankly boring bit of public policy. It’s also deeply consequential for communities of color everywhere. We’ll…

Topics: Economy

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Obama’s Slow March Toward Foreclosure Relief

by Kai Wright on March 26 2010, 4:55PM

File it under better late than never: The White House has finally conceded that the foreclosure crisis will not ease until lenders start writing down principals. From the Obama administration’s start, consumer advocates and banking watchdogs have stressed that foreclosures…

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Montel Williams is the New Face of Predatory Lending

by Jorge Rivas on February 11 2010, 1:27PM

Since his partnership with that crazy psychic Sylvia Browne didn’t work out, Montell Williams now has a new venture with “payday loans” provider Money Mutual. According to Money Mutual: “When it comes to financial assistance Montel Williams understands that people…

Topics: Economy

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