Posted on 10/30/2015 7:07:37 AM PDT by reaganaut1
By the end of this week, the U.S. government will be a step closer to sending out millions of dollars to minority borrowers who were allegedly discriminated against by auto lender Ally Financial Inc. But there is a potential hitch: No one knows for certain whether all the people getting the checks will actually be minorities.
The attempt to sort that out is the end result of a unique settlement in which Ally agreed to pay borrowers at least $80 million to settle allegations of racial or ethnic discrimination, even though the lender is prohibited by law from collecting data on the race or ethnicity of its borrowers.
Ally, formerly known as GMAC and spun off from General Motors in 2006, didn’t admit or deny wrongdoing as part of the 2013 settlement focused on “dealer markups.†In a statement, Detroit-based Ally said it “does not engage in or condone violations of law or discriminatory practices, and based on [its] analysis…it does not believe that there is measurable discrimination by auto dealers.â€
...
To find minority borrowers, the U.S. Consumer Financial Protection Bureau and Justice Department opted to essentially make educated guesses using an algorithm that assigns probabilities to whether borrowers are minorities based on their last names and locations.
They have been sending letters in recent months to Ally customers they believe were overcharged based on the results. One version of the letter, sent to borrowers that the CFPB estimates have at least a 95% probability of being minorities, tells recipients that they qualify for a payment and don’t need to do anything more. It asks borrowers to write back if they aren’t minorities.
(Excerpt) Read more at wsj.com ...
Bring out the nose-calipers!
So. The government is really saying it is OKAY to prejudge one’s status simply by their name and location.
I’m guessing that what I’ve joking remarked about in the past about the names “Vagisil” and “Nyquille” would be worth some real bucks in that settlement money......
No racism here folks....not a damn bit it seems if it means money to minorities. As long as money is involved it’s okay to have names like NAACP and UNCF.... hypocrits
Poor Rachel Dozeal sure got busted at the wrong time.
Most will end up in Democrat campaign coffers for the 2016 elections, because minorities vote Democrat and would send their check to the DNC anyway. Sending these payers directly is a convenience to the minorities, and getting this deal with Ally is VERY convenient to the Democrat Party!
I'm not sure they need those as they are a bit labor intensive. It should be sufficient to use the 'single drop of black blood' rule to measure whether or not they are a minority.
'single drop of black blood' - where have I heard that before? Ah yes, in the Democratic-controlled, Jim Crow deep south! An excellent racial ruler, no?
I like Epinephrine, Delinquentarius, and Arrestashawn.
When have taxpayers been held liable for law violations by private businesses?
“....Most will end up in Democrat campaign coffers for the 2016 elections....”
Standard money laundering for the Obama Crime syndicate. Remember all the solar companies that “failed”??? (for example).
After all, I have a LOT more in common with a black man, than an XY does with a YY, and vice versa.
> Bring out the nose-calipers!
LOL
I guess many will be receiving their $100 checks after legal fees and all...
“One dollar AND NINE CENTS!”
I’ve wondered if Ally Bank was a sham/set-up....for JUST this purpose. (Payouts...from top down.)
It appeared, almost overnight....running non-stop ads, promotions, etc. Something just didn’t seem right about it, to me.
That’s also about the time I noticed a lot of shiny new GM vehicles, driven by, er...minorities, all over the place.
Coinkydink? Timing is everything.
Ally Bank is a unit of Ally Financial, headquartered in Detroit, Michigan, which became a bank holding company in December 2008.
> How come the majority have no rights?
Because the puppetmasters allege that we have “white privilege” and because we don’t loot, pillage, plunder, behead, rape, kill, etc...
That’s plenty....to get some folks to the voting booth. That, and a promise of continued benefits. A little walking around money....as Jesse J used to call it.
Try to imagine the outrage if a Republican was caught doing this.
Upon what was the lawsuit based? If the company did not collect racial information on borrowers, what exactly is it supposed to have done?
Can you say “Reparations”?
Barack Obama, Washington DC... That name and location will be given a 100% probability of being poor, minority by the algorithm.
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