Bank of America Settles Claims for $335 Million - Black Enterprise
Black Enterprise Magazine July/August 2018 Issue

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  • Bank of America Settles Discriminatory Claims for $335 Million

The Justice Department announced Wednesday a $335 million settlement with Bank of America Corp. The agreement resolves accusations that the Countrywide Financial unit of the banking-giant discriminated against qualified African-American and Hispanic borrowers.

The settlement amount will cover the victims of Countrywide’s discriminatory mortgage loans from 2004 to 2007.

Read more at The Grio…

  • Congressional Deadlock Threatens US Economy

White House economic adviser Alan Krueger said Wednesday morning that the congressional stalemate on extending payroll tax cuts and unemployment tax benefits is a threat to the US economy.

The chairman of the Council of Economic Advisers stressed the economic importance of keeping the 2% payroll tax cut for 160 million workers and emergency unemployment benefits.

Congressional Republicans have neglected to vote on a Senate deal to extend the payroll tax cut for two months.

The Obama administration and party leaders from both sides of Congress say they want the tax cut extended. However, they disagree on how to cover the lost tax revenue from a one-year extension, estimated at $120 billion. That deadlock has set the stage for payroll taxes to rise on Jan 1.

Read more at CNN…

  • ‘Sanford & Son’ Actor Graham Brown Dies At 87

Sanford & Son actor Graham Brown died of pulmonary failure last Tuesday, Dec. 13, according to The Root. He was 87.

Brown performed with Minneapolis’ Guthrie Theater, the New York Shakespeare Festival, London’s newly reconstructed Globe Theater and most notably the Negro Ensemble Company.

His big screen credits included Spike Lee‘s Malcolm X and Clockers, as well as The Muppets Take Manhattan. Brown was a resident at the Lillian Booth Actors’ Fund Nursing Home in Englewood, N.J. His daughter, grandson and sister survive him.

Read more at The Root…

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Sade K. Muhammad

Sadé Muhammad is a news intern at BlackEnterprise.com. Before Black Enterprise, she was a fashion writer for Jonesmagazine.com, blogger and research intern for Niaonline.com, and a marketing and web intern for WPVI-TV/6ABC in Philadelphia, PA. Sadé is a senior magazine journalism major and honors student at the Newhouse School of Public Communications at Syracuse University. With a passion for empowerment and solidarity among women of color, she is developing a print and online lifestyle magazine catering to this very audience for her senior thesis. When she’s not writing, she is talking fashion, travel, and Knicks basketball.


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