Washington, DC– Janet Murguía, President and CEO of the National Council of La Raza (NCLR), the largest national Hispanic civil rights and advocacy organization in the U.S., will testify on the issue of Latinos and the subprime lending crisis Thursday, February 28 before the U.S. House Subcommittee on Financial Services and General Government. The hearing will be presided over by Subcommittee Chair José Serrano (D-NY) and will take place at 10:00 a.m. in Room 2220 of the Rayburn House Office Building.

NCLR has long warned against the flaws in the mortgage system, which have left Latino borrowers vulnerable to unethical lending practices. Latino homeowners are twice as likely to end up with a subprime loan, which results in higher fees and greater susceptibility to foreclosure. Predatory lending threatens the significant gains in homeownership our community has made over the last decade. NCLR will speak to the predatory tactics targeting Latino borrowers in the mortgage, credit card, and auto loan markets. The hearing will look at consumer protection in the financial services sector as it relates to subprime lending.

MEDIA ADVISORY

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