Banks and the Poor

Duration: 59

Year Published: 1970

Creator: WNET/13

Format: 16mm

Color: B&W

Sound: sound

Description: Examines how the banking industry exploits the poor regarding consumer credit, personal loans, and the perpetuation of slum housing. Explains that, while the industry often finances slum landlords, restrictive lending policies force the poor to resort to high-interest finance companies. Reveals that banks often purchase installment contracts and force payment even if merchandise is defective or not delivered. Names Congressmen who have bank holdings or directorships but have disregarded House Rule 8 by voting on major banking legislation. Participants include Rep. Wright Patman, David Rockefeller, Bess Myerson Grant, and Schuyler Barrack of the Legal Aid Society in Harlem.

Complete Record: Examines how the banking industry exploits the poor regarding consumer credit, personal loans, and the perpetuation of slum housing. Explains that, while the industry often finances slum landlords, restrictive lending policies force the poor to resort to high-interest finance companies. Reveals that banks often purchase installment contracts and force payment even if merchandise is defective or not delivered. Names Congressmen who have bank holdings or directorships but have disregarded House Rule 8 by voting on major banking legislation. Participants include Rep. Wright Patman, David Rockefeller, Bess Myerson Grant, and Schuyler Barrack of the Legal Aid Society in Harlem., NOTE: Two (or more) records have been merged together to create this data.