Went about as you’d expect. To all those who think racism is a thing of the past, these folks are happy to say this stuff publicly.
Nothing more than a scam—— Black Lives Matter protester admits fraud over missing donations Black Lives Matter Activist Who Organized Statue Teardown Jailed for Fraud | National Review Bristol Black Lives Matter march organiser admits fundraiser fraud Black Lives Matter activist sentenced for fundraiser fraud; took thousands for expensive lifestyle: report Black Lives Matter hysteria made fools of us all — well, some of us anyway
That really wasn’t the point, I’m not a BLM fan either. Listen to some of what comes out of their mouths.
The biggest scam is pretending that Black Lives matter. Not in a country that could elect Trump. Not on police bodycams.
I mean, there is stuff like this happening now The nation’s largest credit union rejected more than half its Black conventional mortgage applicants | CNN Business
The parameters that were captured in the article are important data points, but a fraction of what gets a loan approved or denied. Like most large lenders, almost all of their applications come via the web, they primarily do loans through conventional and VA, so the data is sent to Fannie and Freddie for approval (including VA loans) and NFCU basically takes the results as they are. They do have someone look at the denials likely, but most lenders put a lot of weight on the automated underwriting results because they don’t want to have to buy the loan back later if it defaults. They don’t really have a chance to be intentionally biased. Their problem is that they don’t offer some of the products that would catch the marginal cases. They don’t offer FHA loans for instance, which are literally designed for just those types. My bet would be that offering FHA loans will be their first step in resolving the disparity. I would assume they been under the assumption that VA is the good catch all for conventional loans that don’t get through (VA has a wide credit box) but this shows they aren’t for some of their base. point being, it’s not remotely comparable to the racists in the OP.
Of course not, but there’s a world of difference between the OP and NFCU. One will work to correct their problem (even if it’s out of self interest), the other is hate filled.
Yes, what I posted is way worse than the people in the OP and probably does more to foment racism and racist outcomes than some goober saying nasty things. That guy is probably shoveling shit for a living, not denying loans to black people. You say the people in the video are horrible, then you explain away systemic racism in a ho-hum manner. I dont get it.
I didn’t explain it away or say it’s ok. I said one group will work to fix their issue even if it’s out of self interest and not altruism, one is filled with hate and will never change. In a year or two, NFCU will be a model in this area, because they will have to be. They’ve already hired someone to help them get better. That goober will hate black people til the day he dies, and he will likely teach his kids to hate them too. To your larger point, it was mentioned briefly in the article. But the GSEs and most large lenders do what’s called fair lending testing, to make sure various minority groups aren’t negatively impacted by credit or market changes. They run their loans through various credit scenarios and see how different groups perform, to specifically avoid stuff like this. NFCU has a unique client base, and product offering list, it’s possible that the pandemic hit their AA borrowers harder than some other groups and they were slow to catch it, or with their limited products they didn’t have an easy solution. This will force them to resolve it, which is good for everyone. The feds by the way have started to take a bigger interest in this as well across the industry.
Nah, I'm betting a lot of them consider themselves Christians. And Trump wouldn't be where he is without white evangelicals.
FCA, CRA, ECOA and FCRA have been around for almost half a century, what makes you think they will fix anything about themselves faster than Bubba the cross burner? The results couldn't be much worse if Bubba was in charge of the loans himself. Regulatory whims and priorities can change too. Anyways, my larger point is the people that have more "rational" explanations and the threat of federal regulations hanging over them do far more to reproduce racism than some dumbass on the street.
A lot of them likely do consider themselves something they arent. The second sentence has nothing to do with what you said, other than your typical lumping of a group that you dont like. ... Just like the people in that video.
