money and finance

Study: Having a “Black” Sounding Name Could Prevent You From Getting a Mortgage Loan

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If it was between the names Jessica Smith and LaKeisha Jackson appearing on a mortgage loan application, a new study says that having the “black sounding” name could prevent a person from getting a loan. In a 3-year study led by Andrew Hanson, associate professor...

Mastercard’s New Anti-Identity Theft Technology Will Accept Selfies For Passwords

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If you needed another reason to continue clutching your phone to your chest, look no further. Mastercard’s new anti-identity theft initiative will soon allow you to substitute passwords with selfies. New York Magazine reports that “the new biometric technology requires you to blink while you...

Apparently, It Takes Black Women Longer To Pay Off Their Student Loans

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According to The Simple Truth about the Gender Pay Gap — a report by the American Association of University Women,  women of color have it especially tough when it comes to paying back their student loans. On average, women who graduated college in 2008 paid back 33 percent of...

Toyota Must Pay $22 Million for Charging Minorities Higher Interest Rates

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The Justice Department and the Consumer Financial Protection Bureau on Tuesday announced a settlement resolving allegations that Torrance-based Toyota Motor Credit Corp. discriminated against black and Asian/Pacific Islander borrowers in auto lending. Toyota has agreed that it will not increase rates it quotes to car...

Red Lobster Sales Skyrocket After Beyoncé’s ‘Formation’ Reference

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Anybody with a pulse and some tastebuds will tell you they didn’t need a Beyoncé reference to send them running towards the cheddar bae biscuits and sinfully savory platters at Red Lobster. But who knows? Perhaps Bey’s Red Lobster name drop was a reminder that...

Black People Are Stock Investing More Now Than Ever Before

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Black Americans have generally steered clear of the stock market and consequently many with solid incomes have lagged far behind whites in accumulating wealth. But the tables are starting to turn. A national study by Chicago-based Ariel Investments. Currently, 67 percent of African-Americans with incomes...