Hold Wall Street accountable for discriminatory lending practices

We've just learned that the ACLU’s lawsuit against Morgan Stanley will go forward. This is the first time a bank is being held responsible for its instrumental role in racially discriminatory lending practices.

The 2008 housing collapse affected all corners of America, but was especially devastating to African-Americans. So this is a big day for Rubbie McCoy, a plaintiff in our case—she will finally get her day in court. A single mother of four in Detroit, she received a toxic loan from a subprime lender and got slapped with excessive fees. Years later, Rubbie still deals with the stress and fear of foreclosure every day. She was the victim of the same predatory and discriminatory lending practices that devastated Black and Latino communities and led so many people to lose their homes.

The ACLU has poured extensive resources into amassing the evidence to bring this complex and costly lawsuit against Morgan Stanley. Now this groundbreaking case is moving forward, putting pressure on the Department of Justice to finally hold other big banks accountable for financing illegal and discriminatory lending practices. Help us take advantage of the public attention around this case to get the Department of Justice to enforce the law and hold Wall Street accountable.

Sign the petition urging Attorney General Eric Holder to take Wall Street banks to court under the Fair Housing Act.

To Attorney General Eric Holder:

By pushing lenders to issue high risk, irresponsible loans, Morgan Stanley and many other Wall Street banks devastated communities of color with deceptive and harmful lending practices, in violation of the Fair Housing Act.

The evidence is there and it’s time to take the banks to court for violating the law.

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