African Americans, minorities, senior citizens
and individuals in impoverished areas are being
targeted, on many fronts, as sources to make a quick
profit because of their socio-economic position in
society. In industries such as Insurance minorities
are being preyed upon. These consumers are being
charged outrageous fees and interest rates at an
alarming rate. The NAACP in conjunction with the
Ohio Legislative Black Caucus is preparing to
introduce legislation, which would regulate these
industries allowing low to moderate-income citizens
to pursue the American dream of financial security.
Insurance redlining is nothing more than a
concerted effort to concentrate poverty in urban and
heavily minority populated cities. This practice
consists of insurance companies charging excessive
rates of insurance based on living in certain areas
considered high risk. In an effort to help ensure
African Americans and other minorities can
participate in a prosperous economy and effectively
accumulate wealth, the NAACP pledges to provide
relief for residents of urban centers through state
and federal legislation as well as city ordinances.