Suit: Morgan Stanley Was ‘Reverse Red-Lining’ Against Low-Income Communities

Photo: ©RIA Novosti, Alexandr Kryazhev.
Photo: ©RIA Novosti, Alexandr Kryazhev.

The American Civil Liberties Union lawsuit against Morgan Stanley over discriminatory lending practices has revealed for the first time that homeowners are filing claims under two civil rights acts: the Equal Credit Opportunity Act and the Fair Housing Act.

The suit also alleges that the mortgage bank has been unfairly targeting communities starving for investment and offering assistance to people who the bank knows do not have the resources to buy homes.

Host Carmen Russell-Sluchansky spoke with Stuart Rossman, director of litigation for the National Consumer Law Center, to discuss the case.


About Carmen Munir Russell-Sluchansky 360 Articles
Carmen is a multimedia journalist based in Washington, DC whose work has appeared in a variety of outlets including National Geographic, NBC News, the BBC, Asia! Magazine, The China Post, Chicago Tribune and Orlando Sentinel.