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SEPTEMBER 7, 2000

Tribal leaders plan to testify before the Federal Reserve Bank today about predatory lending practices and other discrminatory practices on reservations.

Reports of high interest rates on loans, high fees, and other practices are common, say leaders familiar with the banking and lending industry. In 1999, American Indian borrowers were rejected for mortgages 42 percent of the time, down from 52 percent in 1998.

Get the Story;
Indians victims of predatory lending, tribal officials say (AP 9/6)

Relevant Links:
The National American Indian Housing Council - naihc.indian.com
The Federal Reserve System - www.federalreserve.gov