Civil-rights activist Jesse Jackson will meet with Federal Reserve Chairman Ben S. Bernanke next week to discuss proposals to help homeowners struggling with mortgages they can't afford.
The meeting was arranged by John C. Taylor, president of the National Community Reinvestment Coalition in Washington. Taylor also sits on the board of Jackson's Chicago-based RainbowPush Coalition, described on its Web site as ``a progressive organization fighting for social change.''
``I am on his board, and I initiated the contact with both he and Bernanke,'' said Taylor, whose organization represents a group of more than 600 community advocates promoting affordable housing and banking services.
The Fed and other bank regulators are under fire from Congress and consumer advocates for not subjecting the mortgage market to tougher rules. Delinquencies on subprime mortgages to borrowers with weak or limited credit histories reached a five- year high in June. Fed figures show that high-cost loans are more common among blacks and Hispanics.
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