[GeronL]

duh, higher risk borrowers get charged higher interest rates....

I guess he wants another mortgage crisis

[crusty old prospector]

He said the discriminatory practices went to the heart of the problem with subprime mortgages and the financial market meltdown they helped set in motion. These borrowers paid on average tens of thousands of dollars more in interest and were subject to pre-payment penalties.

No, giving the bums the loans in the first place was the heart of the meltdown.

[EGPWS]

I guess he wants another mortgage crisis

0bama is entering the campaign season with the attitude "When you have nothing, you've got nothing to lose" to get himself reelected.

What an "effed" up scenario that idiot has created for the greatest country in the world.

[Almondjoy]

You are sadly mistaken. They clearly hit them for a fine because they credit qualified for prime loans. The same thing happened at Wells Fargo Financial but they were not accused because of race and the fine was much less, being that far less borrowers were affected.

The part I can’t figure out is that with many large companies they keep the race data away from the credit data. So how did the underwriters know their race unless they purposely gave them the data, or underwriters came in direct contact with the borrowers(and yes I do realize that some names can give away the race of the person). But even if they looked at borrowers by name only, it would be pretty stupid of a corporation to allow underwriters to steer people to higher costing loans when identified by name as a minority.