add racism to Bank of America's long list

Discussion in 'Politics' started by JiggsCasey, Dec 21, 2011.

  1. JiggsCasey
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    JiggsCasey VIP Member

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    oh cool... ... So, in addition to predatory lending, drug money laundering, threatening whistleblowers, rampant securities fraud and wrongful foreclosure practices... we can add association with blatant racism to the list. ... Their stock value can't drop low enough. And at $5 a share, they're in full crisis mode.

    Bank of America to pay $335M in settlement with DOJ over discriminatory lending
    BofA in $335M settlement over Countrywide loans - Yahoo! Finance

    According to the DOJ's complaint, Countrywide charged over 200,000 African-American and Hispanic borrowers higher fees and interest rates than non-Hispanic white borrowers with a similar credit profile. The complaint says that these borrowers were charged higher fees and rates because of their race or national origin rather than any other objective criteria.

    "These institutions should make judgments based on applicants' creditworthiness, not on the color of their skin," said Attorney General Eric Holder. "With today's settlement, the federal government will ensure that the more than 200,000 African-American and Hispanic borrowers who were discriminated against by Countrywide will be entitled to compensation."

    Once again though, no one goes to jail. But don't you dare protest anywhere near their buildings in a non-violent display of your 1st Amendment rights, or fat storm troopers will give you a nice pepperspray facial and stain your record forever.

    Conservative America. Rewarding white-collar criminals and blaming the victims for decades.
     

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