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Battling 'Predatory' Home Lending

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Each year, high-cost home loans cost American consumers at least $9 billion in excess interest rates. Hardest hit are communities of color. African-American home-buyers are three times as likely as whites to take out high-cost loans. Keith Corbett, senior vice president of the nonpartisan Center for Responsible Lending and Rep. Melvin Watt (D-NC), chairman of the Congressional Black Caucus, discuss the issue with Ed Gordon.



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