Working to improve America's housing system and end unnecessary foreclosures

Summer 2014 Latinomics: What Latinos Really Think About the Economy

Summer 2014 Latinomics: What Latinos Really Think About the Economy

Latinomics
It’s been a great summer for NCLR as we took the 2014 NCLR Annual Conference to Los Angeles in July, where Senator Elizabeth Warren spoke at a town hall, and where we released a poll on Latinos’ attitudes toward the economy.

Together, we saw Julián Castro confirmed as HUD secretary, becoming only one of four Latinos in President Obama’s cabinet.

Thanks to your support, NCLR saw workers’ rights victories in the form a new USDA rule protecting Latino poultry workers nationwide, and an executive order from President Obama strengthening worker safety for employees of federal contractors.

Thanks for all your support this summer, and read on to see what’s new in Latinomics!

Latinos and the Economy: NCLR and Latino Decisions Release New Poll

At our 2014 Annual Conference in Los Angeles, NCLR partnered with Latino Decisions to release a poll revealing what Latinos really think about today’s economy.

find out more

Citigroup Settlement Penalties Are the Largest in History

Citigroup Settlement Penalties Are the Largest in History

Gavel and Law Books

The U.S. Department of Justice recently announced a $7 billion settlement with Citigroup Inc. over the bank’s faulty mortgage securities and egregious practices.

The settlement includes the largest civil fraud penalty ever levied by the Justice Department under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and is more than twice what many analysts expected.

The government’s description of Citi’s wrongdoing closely mirrors conduct outlined in the Justice Department’s settlement with J.P. Morgan Chase.

In both cases, the banks, or entities that they acquired, acknowledged repeatedly giving investors misleading information about mortgages underlying the securities. In many cases, those mortgages didn’t meet internal underwriting guidelines—which ensure that safe and secure loans are issued and help set the terms of the loan—but were included in packages and sold to investors.

find out more