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'Tis the Season for Escalating Credit Card Debt

Zenitha Prince

African Americans have been pummeled by the recent financial crisis, including facing the most adverse consequences of credit card debt and higher interest rates, according to a recently released study by the NAACP and Demos, a U.S.-based research and policy center. Findings from “The Challenge of Credit Card Debt for the African-American Middle Class,” indicate that Black Americans suffered disproportionate economic losses since the Great Recession, weathering the highest jobless rates, steepest declines in income and deepest cuts into their assets and investments.

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