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Supreme Court Ruling Permits More Aggressive Efforts to Combat Predatory Lending
June 29, 2009Today in Cuomo v. Clearing House Association, the Supreme Court confirmed that our nation's fair lending laws should be vigorously enforced by all levels of government. The NAACP Legal Defense and Educational Fund, Inc. (LDF) is pleased that the Court rejected the misguided attempt by federal regulators and national banks to prevent states from enforcing their own fair lending laws. The Court's ruling permits states to step up their efforts to curb discrimination in sub-prime lending markets, and is especially timely given that predatory lending has exacerbated the impact of the current economic crisis on minority communities. Full release.