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Keyword: racistlending

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  • Obama Adds Auto, Student Loans To Racism Probe (More Disparate Impact Lies)

    11/06/2013 5:48:49 PM PST · by Titus-Maximus · 10 replies
    Investors.com ^ | 3/6/2013 | Paul Sperry
    Special Series: The War On Banks The Obama administration is no longer investigating just mortgage lenders for allegedly discriminating against blacks and Latinos. It's now also targeting banks making auto and student loans. Opening a new front in the war on banks, the Consumer Financial Protection Bureau is investigating and preparing to sue Ally Financial Inc. and at least three other major auto lenders for allegedly overcharging minority borrowers. "A persistent problem is the evil of discrimination," proclaimed Richard Cordray, the bureau's recess-appointed director. Though financial reforms don't authorize the new credit watchdog to probe auto dealers, "auto lending is...