Banks got sued by the fed if they didn’t give blacks loans they could not repay and now blacks want to sue them for giving them the loans. I think the banks ought to just name the persons in the fed that contacted them in the first place as participants in the lawsuit.
I worked in the Mortgage industry in the late 1990’s. I vividly remember several lawsuits in Ohio, all originating in Cleveland, that were filed by this organization that at the time I had never heard of before. The name of this heretofore unheard of organization was ACORN. They were alleging that banks and lenders were discriminating against low income borrowers and credit challenged borrowers.
I remember a couple of things that changed after the lawsuits. One, lenders could no longer turn down a loan from someone who recieved unemployment compensation, child support as their primary income, or welfare. Two, many private lenders stopped originating loans in Cuyahoga County.
Oh, and lead counsel for two of these lawsuits representing ACORN, none other than one Barrack Hussein Obama. So, he sued the lenders to make them give out these loans as a lawyer for ACORN, and now as President he is suing them again for complying and actually lending the money. And he is getting away with it. Only in America.