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Reverend Jesse Jackson Enters Debate on Nissan's Lending Practices

July 12, 2001

DETROIT- The Reverend Jesse Jaclson will hold a press conference on July 12 to address rising concerns that Nissan's black customers paid markedly higher finance charges than Nissan's white customers. Allegations followed a study published by Mark A. Cohen of Vanderbilt University that concluded blacks paid more after analyzing 300,000 car loans in 33 states.

"It is incumbent upon auto makers to establish two-way trade between African American consumers who drive their profit margins and the automotive industry. Unfortunately, people of color have been singled out for economic profiling. We contend that the discrimination goes from the dealer lot to the residential lot," said Jackson according to a statement released by the Rainbow/PUSH Coalition of which he is president.

Jackson also contends that the State of Mississippi paid whites more than blacks for land designated for a new Nissan plant.

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