Politically Correct Madness Continues: Now Credit Checks Are Racist Toward Minorities

[USArmyRetired]

I think it should continue and that minorities should be held to the same standards as other people. If they have bad credit then they need to find a job where they can pay their bills and get their score up. Just because they are minorities doesn't mean they need a break. I always do a credit check when renting out property and if it comes back that they haven't been paying their bills then tough luck. The same should apply to employees because you don't want a person who isn't responsible paying their bills. It could effect the company and its performance.



American Third Position
Equal Employment Opportunity Commission to hold hearing on use of credit checks in hiring | MLive.com

The anti-white political correctness which is destroying our nation has taken yet another giant leap forward with the news that credit checks on job applicants are being outlawed because they are “racist.”

In something that sounds more like a script to Frasier or Seinfeld, the Equal Employment Opportunity Commission (EEOC) has started holding an official hearing into the issue of credit checks being run on employees.

The hearing is the result of complaints that the practice of checking the credit histories of job applicants “discriminates against blacks and Latinos who tend to have lower credit scores.”

Astonishingly, four states have already passed laws limiting credit checks as a result, and similar bills have been introduced in 20 other states and Congress.

“It is a practice that we believe is both harmful and unfair to American workers,” a person named Chi Chi Wu, who is apparently a counsel for the National Consumer Law Center, told the EEOC hearing.

(A quick review of Ms. Wu’s background reveals that she is a member of the racially–based Asian Pacific American Agenda Coalition, which tells readers all they need to know about her support for nonwhite racial organizations.)

more in link:

 

[waltky]

Banks scared to lend to minorities...

Lending to blacks, Hispanics plummets during housing crisis
Feb 14, 2011 - Since the housing market collapsed, mortgage lending to African Americans and Hispanics has plunged precipitously — by more than 60 percent, according to a new study of loan information that banks submit to the federal government.

Together, African Americans and Hispanics were able to borrow 62 percent less to buy or refinance homes in 2009 than in 2004, before the market crashed, the computerized analysis finds. With lenders imposing tighter credit standards, mortgage dollars going to non-Hispanic white borrowers also declined, though by considerably less: 17 percent. Asians fared best, obtaining nearly an equal amount in mort*gages. The study, using Federal Reserve data, was conducted by Maurice Jourdain-Earl, founder and managing director of ComplianceTech in Arlington, Va., which advises financial institutions on fair lending practices.

Mortgages made to Hispanics have decreased the most, by 63 percent, to $78 million in 2009 from $214 million in 2004. Lending to African Americans has dropped to $49 million from $122 million, or 60 percent. Whites have been affected much less and Asians barely. New mortgages to white borrowers declined to $1.1 billion from $1.3 billion, or 17 percent. Lending to Asians stayed almost the same.

Whites were about twice as likely as African Americans and Hispanics to be approved for prime mortgages with the lowest interest rates, while members of the two largest minority groups were two to four times more likely to receive subprime loans, which have higher rates. By contrast, the disparities were much narrower for loans insured by the government’s Federal Housing Administration, which has attracted a growing number of borrowers during the credit crunch.

The study concluded that a “dual mortgage market” has emerged, with white and Asian borrowers having better access to lower-cost mortgages than African Americans and Hispanics, who on average pay more to own or refinance a home — if they can obtain a mortgage. “The higher cost for mortgage credit translates into less money for basic necessities,” Jourdain-Earl writes. Reasons for the lending disparities are not directly reflected in the national data, and the Federal Reserve Bank does not collect information on foreclosures by race and ethnicity.

MORE

 

[Lumpy 1]

I think it should continue and that minorities should be held to the same standards as other people. If they have bad credit then they need to find a job where they can pay their bills and get their score up. Just because they are minorities doesn't mean they need a break. I always do a credit check when renting out property and if it comes back that they haven't been paying their bills then tough luck. The same should apply to employees because you don't want a person who isn't responsible paying their bills. It could effect the company and its performance.



American Third Position
Equal Employment Opportunity Commission to hold hearing on use of credit checks in hiring | MLive.com

The anti-white political correctness which is destroying our nation has taken yet another giant leap forward with the news that credit checks on job applicants are being outlawed because they are “racist.”

In something that sounds more like a script to Frasier or Seinfeld, the Equal Employment Opportunity Commission (EEOC) has started holding an official hearing into the issue of credit checks being run on employees.

The hearing is the result of complaints that the practice of checking the credit histories of job applicants “discriminates against blacks and Latinos who tend to have lower credit scores.”

Astonishingly, four states have already passed laws limiting credit checks as a result, and similar bills have been introduced in 20 other states and Congress.

“It is a practice that we believe is both harmful and unfair to American workers,” a person named Chi Chi Wu, who is apparently a counsel for the National Consumer Law Center, told the EEOC hearing.

(A quick review of Ms. Wu’s background reveals that she is a member of the racially–based Asian Pacific American Agenda Coalition, which tells readers all they need to know about her support for nonwhite racial organizations.)

more in link:

++++The same should apply to employees because you don't want a person who isn't responsible paying their bills. It could effect the company and its performance.++++

If they are handling the companies finances.. maybe so.. but most people fall on hard times for one reason or another in their lives. They should have the opportunity to dig themselves out if their qualified for the job.. Why make it even harder especially during these difficult days...