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Skip to comments.Holder Launches Witch Hunt Against Biased Banks
Posted on 07/09/2011 8:07:00 AM PDT by Slyscribe
In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD.
Prosecutions have already generated more than $20 million in loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist.
(Excerpt) Read more at investors.com ...
Holder better do something to get the attention off of gun walker..............he’s probably feeling a bit of heat there........
The Underwriters of a loan have no clue what color the person is only the credit score history and employment information.
Oh good, then we’re about five years from these banks and Wall Street being blamed for the next financial crisis. Excellent. Can’t wait.
Let’s face it: they want people of color to get the houses for free. Period.
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