The economic crisis of 2008, which was devastating for the nation’s economy as a whole, was nothing short of disastrous for communities of color. Much of the decades of progress toward full inclusion in the American dream which was ushered in by the landmark civil rights laws of the 1960’s disappeared virtually overnight, stripping communities of color of their homes and their financial futures. These enormous setbacks were not the result of a natural disaster but were instead the easily foreseeable consequences of forces set in motion by banks eager to realize enormous profits without regard to the impact upon vulnerable communities.
By Tyler Ray, ACLU Washington Legislative Office at 11:30am
For years, Rita Winters envisioned spending her golden years of retirement at her dream house in Southern Maryland. However, as a result of events outside of Rita’s control, her dream home placed her in a nightmare situation. Federal action is needed to stop the nightmare that Rita and millions others faced while attempting to achieve their dream of home ownership.
On Monday, the American Civil Liberties Union filed a lawsuit against Morgan Stanley in what may become the most important civil rights case in a generation. If successful, the implications of this suit are profound and the impact could be staggering, both in addressing the damages suffered by devastated communities as a result of predatory lending triggering the foreclosure crisis and the symbolic importance of framing these damages as civil rights violations.
