 The banks issued loans with teaser rates, knowing that when higher variable rates kicked in later the borrowers would not be able to meet their payments.As long as housing prices kept rising and borrowers could refinance easily, everyone appeared to be doing well.Minorities willingly entered sub-prime mortgages in far greater numbers than whites and represented a disproportional percentage of foreclosures,

Recently, the NAACP has submitted a lawsuit concerning alleged injustices in the lending industry.