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Discriminatory Lending

The Brave New World of Discrimination

Dennis D. Parker | Posted 09.10.2015 | Politics
Dennis D. Parker

A patent recently acquired by Facebook could conceivably permit loan servicers to gain access to the credit ratings of a loan applicant's social network and then use that information to determine whether the applicant qualifies for a loan.

Freedom at Last From Discriminatory Lending: A Fairer Future With Technology

Jason van den Brand | Posted 06.08.2015 | Money
Jason van den Brand

Changing the way one applies for a loan doesn't simply mean stating for 28 pages that a borrower will not be discriminated against, or that we should depend solely on federal and state regulations to curb financial intuitions' racist lending practices.

Bank Accused Of Discriminating Against Minority Borrowers

AP | Posted 11.12.2012 | Business

LOS ANGELES (AP) — A California bank has agreed to invest $2 million to help people get credit and mortgages in lower-income communities to settle J...

Ex-Wells Fargo Worker: Bank Steered Black Homebuyers Into Subprime Mortgages

The Huffington Post | Alexander Eichler | Posted 06.13.2012 | Business

Six years after the onset of the housing bust, big banks are still facing allegations that race influenced their lending practices. Beth Jacobson, ...

Wells Fargo Pays Big Time To Settle Discriminatory Lending Claims

Reuters | Posted 07.29.2012 | Business

* City of Memphis had accused Wells of discriminatory lending * Bank has denied allegations, citing commitment to responsible lending...

Watchdog To 'Stop Discrimination In Its Tracks'

Reuters | Posted 06.18.2012 | Money

By Dave Clarke WASHINGTON, April 18 (Reuters) - The new U.S. consumer financial watchdog said on Wednesday it will aggressively pursue...

That $335 Million BofA Settlement: The Good, the Bad, and the Very Ugly

Richard (RJ) Eskow | Posted 02.20.2012 | Politics
Richard (RJ) Eskow

Once again, bankers have bought their way out of being investigated without even acknowledging their wrongdoing. Justice isn't served when that happens.

Shahien Nasiripour

Wells Fargo Target Of Justice Department Probe; Agency Alleges Discriminatory Lending | Shahien Nasiripour | Posted 09.25.2011 | Business

WASHINGTON -- The Department of Justice is preparing a lawsuit against Wells Fargo, the nation's largest home mortgage lender, for allegedly preying u...

Expanded Mortgage Disclosure Through HMDA Reform Would Detect Discrimination, Unsustainable Loans

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

HMDA is a crucial tool in the fight against discriminatory lending, but the data currently collected is not sensitive enough to detect some of the problematic practices that triggered the foreclosure crisis.

Usurious Payday Loans: Myths, Flawed Studies, and Solutions

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

Here's the truth, for all those well-meaning payday defenders out there: Payday loans weren't created to help underserved populations, but to exploit helpless people.