Saturday 19th August 2017,

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Asian Journal: Asian Americans Targeted by Predatory Lender Excluded from Countrywide Settlement

posted by Randall

CountrywideThe National Asian American Coalition charges as many as 100,000 Asian Americans have been excluded from a $335 million dollar settlement between Countrywide and the Department of Justice.

Faith Bautista, president of the Coalition, in a blog for the Asian Journal, says Countrywide targeted for predatory loans new Asian American immigrants with cultural and language barriers.

The Coalition has tried to address this exclusion by meeting with   Thomas Perez, an assistant attorney general who has been nominated for Secretary of Labor. But so far he has refused to meet with the Coalition, as has Attorney General Eric Holder. As far back as 2007, the Coalition met with Governor Jerry Brown about its concerns about Countrywide practices.

The Coalition is threatening to hold up the confirmation of Perez for Secretary of Labor if no one meets with the Coalition to address its concerns.

You can read more about this in the Asian Journal.

 

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