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photo by steed media service
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President & CEO/Detroit Alliance For Fair Banking
The Detroit Alliance For Fair Banking has served as an advocate
for financially unstable audiences since its inception in 1989. When
the Detroit Free Press found out that there were discriminatory
practices happening in the city’s metro area, something had to be done
to counteract those unfair practices, thus the creation of this much
needed alliance. As the president and CEO for the organization, Deborah
Jones has ensured economic justice for some 200 members of the Alliance
in the four years that she has held the post.
Within the alliance, which is comprised of 200 community-based
organizations, Jones has worked closely with all of the members to
educate them on the importance of reading the fine print.
“What we have found is that people can sometimes be so happy to get a
house, that they see the bottom-line mortgage note payment but don’t
see the $20,000 in hidden fees in brokerage and unmanageable interest
rates,” laments Jones. “All of a sudden, you have individuals who have
a home and now their dream is being taken away from them. What I want
to ignite is the idea that we as a people need to stand together and
voice economic justice. We need to voice it to the mayor, we need to
voice it to our legislators, and we need to voice it to the regulators
for reformation of the Community Reinvestment Act and other equal
credit opportunities.” jason thompson
