Daily News Feed 3.5.2010/Vocab: fealty

AIG settles discrimination charges
The units, AIG Federal Savings Bank and Wilmington Finance Inc, will provide $6.1 million to borrowers who were affected by the alleged discrimination, according to a consent order filed in U.S. District Court in Delaware. They will also provide at least $1 million to organizations that provide credit counseling, financial literacy and other educational programs that target blacks, according to the documents. American International Group Inc (AIG.N), which received a $182.3 billion government bailout amid the 2008 financial crisis, said in a statement that it denied the government’s allegations and that the two units did not condone discriminatory conduct. (Continue Reading…)

Closing of Ebony Fashion Fair means end of an era
Long before the nation obsessed over the sleeves of its black first lady, Eunice Johnson was shining a spotlight on black beauty and style. The wife of Ebony magazine founder John Johnson, she used her natural flair and healthy finances to create the Ebony Fashion Fair, a sepia-hued, touring fashion show that would spend 50 years bringing high fashion to generations of neglected black audiences. Now, though, the future of the event that created pride in the black community is unsure. Johnson Publishing Company has placed the event on hiatus, citing Johnson’s Jan. 3 death. But the indefinite break also coincides with a fashion world opening its arms to diversity through a growing crop of black models and stylemakers, bringing the relevance of Johnson’s show into question. (Continue Reading…)

NYC Black leaders: Paterson should stay in office
Influential black leaders in New York City said Thursday night that they believe Gov. David Paterson should stay in office amid allegations he and his staff interfered in a domestic violence case involving a top governor’s aide. Meeting in a Harlem soul food restaurant that is the center of power for black politics in New York, the group led by the Rev. Al Sharpton agreed that Paterson should try to withstand the violence scandal and new ethics charges related to free World Series tickets he sought and obtained from the New York Yankees, despite a state gift ban. Group members said they want to meet with the governor to discuss his ability to continue to govern. (Continue Reading…)