Only a few years ago, the scarcity of credit was a problem for women, low-income Americans, and borrowers in communities of color. Today, because of advances in technology and changes in the marketplace, many in these same populations are bombarded with offers from subprime mortgage lenders, check cashers, payday lenders, and other fringe bankers. Credit in the United States is now more widely available than ever before. Yet this expansion has been accompanied by a sharp rise in predatory lending, which undermines the economic benefits of home ownership and helps perpetuate the widening wealth gap between whites and people of color.
