With landmark lawsuit, Barack Obama pushed banks to give subprime loans ....

[zeke]

How many mortgage loan officers on here? Besides me.

Banks did red line. I saw it. I was told what areas were acceptable to the lender I worked for.

The CRA ( Community Reinvestment Act) was designed to keep banks and only banks from accepting a communities deposits but not offer any or very little loan products.
In other words; reinvest in the community you are doing business in.

I know this will be hard for some of you right wing idiots to understand, however it was mortgage brokers who started the sub prime loan boom. After the deregulation allowed anyone with money to come into the mortgage market.

And this will really blow your mind. A mortgage broker does no real banking. They do not accept deposits. Therefore they were never regulated by CRA requirements.

And from the little I read of the link. Obama went after Citibank. Notice the work BANK at the end. They were CRA regulated and they did redline.

It is so easy to twist and turn this subject, just like it was so easy to twist and turn mortgage loans. And just like those that bought into a sub prime loans, many people are buying into the bull shit that is the rethug story of the housing crisis.

But facts are facts. And the truth isn't just another side of a lie.; (Thanks to whoever said that.)

You would of had to of been there. I was.

 

[NYcarbineer]

Just one question which I have little hope of getting honest answers to.

I am quite certain that none of you in this thread have actually read the lawsuit in question.

How many of you will admit that?

 

[francoHFW]

Yup dupes, Obama caused the 2008 Bush meltdown Drepression when he was a community organizer in Chicago in 1995...ZZZZZZZZZZ

Last count- 16 google pages of this crappe at LEAST LOL.

 

[Amazed]

How many mortgage loan officers on here? Besides me.

Banks did red line. I saw it. I was told what areas were acceptable to the lender I worked for.

The CRA ( Community Reinvestment Act) was designed to keep banks and only banks from accepting a communities deposits but not offer any or very little loan products.
In other words; reinvest in the community you are doing business in.

I know this will be hard for some of you right wing idiots to understand, however it was mortgage brokers who started the sub prime loan boom. After the deregulation allowed anyone with money to come into the mortgage market.

And this will really blow your mind. A mortgage broker does no real banking. They do not accept deposits. Therefore they were never regulated by CRA requirements.

And from the little I read of the link. Obama went after Citibank. Notice the work BANK at the end. They were CRA regulated and they did redline.

It is so easy to twist and turn this subject, just like it was so easy to twist and turn mortgage loans. And just like those that bought into a sub prime loans, many people are buying into the bull shit that is the rethug story of the housing crisis.

But facts are facts. And the truth isn't just another side of a lie.; (Thanks to whoever said that.)

You would of had to of been there. I was.

Tsk, Tsk, Tsk...the surely you understand that the GOV forcing Banks to do anything that would jepordize OTHERS money is a BAD thing....like loaning to those who couldn't afford to pay it back.

You can twist and shout all you want, this entire thing was caused by the Left.

Shame on you.

 

[Shelzin]

The economic collapse, attributed to Bush, is actually obama's faut.

That's bullshit. Obama made a bad situation better for the present, and worse for the future.

The economy had the flu, Obama gave a dose of medicine and made it into a cold. Instead of having the flu for a year or two we'll now have a cold for a decade unless they start printing money again. Then we are back with the flu and it just might just kill us.

And it doesn't seem as if Democrats or Republicans are smart enough to actually say and do that right things to get us back to prosperity.

I mean shit... Republicans will have a balanced budget in 30 years? Seriously? It's going to take that long just to balance it?

Retarded tribal monkeys.

 

[NYcarbineer]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

 

[Lakhota]

The Daily Caller lie of the day.

 

[IHBF]

Snopes is for dopes. It's just two radical liberals' opinion.

 

[Amazed]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Poor little moron.....

 

[Amazed]

Barack was indeed involved in it as stated......Carter/Clinton/Frank/Dodd are the main culprits.

 

[NYcarbineer]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Poor little moron.....

Snopes proves the OP and the Daily Caller wrong.

 

[IHBF]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Poor little moron.....

Snopes proves the OP and the Daily Caller wrong.

How?

 

[GoneBezerk]

I said awhile back the DoJ was forcing banks to give blacks homeloans that they didn't deserve just like before the mortgage industry mess that blew up in Bush's face.

Obamination wants to implode this country and he knows he can always blame banks and white poeple for any economic collapse.

 

[beretta304]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Poor little moron.....

Snopes proves the OP and the Daily Caller wrong.

Not a thing was proven to be wrong.

 

[beretta304]

Okay, children...

...some of you wonder why some of us initially just mock this kind of crap when it's posted?

And then you think it's a good comeback to accuse us of mocking because we have no rebuttal?

Well, sometimes we mock because the mock worthy shit being posted is just warmed over recycled shit from old shit that's been posted and debunked before.

snopes.com: Obama Required Banks to Lend Money to Poor People

Comprehensively, irrefutably, indisputably DEBUNKED ages ago.

Now all of you clowns should show some class and apologize for wasting all our time, lol, even if we're all mostly here TO waste time.



Would someone else post this in the 10 other threads? I have to go to Tractor Supply and buy one of those cool Shelter-Logic portable car ports on sale.

You made a bigger ass of yourself than before snopes helped you. Nothing was proven to be wrong.

 

[Shelzin]

The economic collapse, attributed to Bush, is actually obama's faut.

That's bullshit. Obama made a bad situation better for the present, and worse for the future.

The economy had the flu, Obama gave a dose of medicine and made it into a cold. Instead of having the flu for a year or two we'll now have a cold for a decade unless they start printing money again. Then we are back with the flu and it just might just kill us.

And it doesn't seem as if Democrats or Republicans are smart enough to actually say and do that right things to get us back to prosperity.

I mean shit... Republicans will have a balanced budget in 30 years? Seriously? It's going to take that long just to balance it?

Retarded tribal monkeys.

Hey... If you are going to Neg me for something I post the least you can do is post after it... That way I don't have to come looking for ya. Thank you, that is all.



Edit: Obviously not Kats... but now I have to back track to see who it was.

 

[NYcarbineer]

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Poor little moron.....

Snopes proves the OP and the Daily Caller wrong.

Not a thing was proven to be wrong.

It is wrong to claim that Obama pushed the banks into the subprime mortgage market against their will.

They were already IN the subprime mortgage business. Happily and eagerly. The lawsuit was a RACIAL DISCRIMINATION LAWSUIT,

complaining that the banks weren't giving the loans to black people that they were giving to white people.

Now I know of course that it is distressing to you that a bank would be forced by the govenrment not to discriminate based on race,

but too bad,

this is America. Move somewhere where racism is still tolerated if you this bothers you that much.

 

[NYcarbineer]

Just to clarify this for you 'nuts who won't bother to read - for comprehension - the actual lawsuit:

Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories.

Get it now? If you do,

please explain the problem of requiring a bank not to turn down loan applications because someone is BLACK,

despite having similar financial characteristics and credit histories.

Explain in detail why you support such racism.

 

[KissMy]

Community Reinvestment Act Lending Totals. You can see the buildup of cumulative CRA lending in the chart below. The source of the data is the National Community Reinvestment Coalition (NCRC).

Why the sharp increase? According to the National Community Reinvestment Coalition: CRA Commitments (PDF) (a document they dropped from their own website):

...Since the passage of CRA in 1977, lenders and community organizations have signed over 446 CRA agreements totaling more than $4.5 trillion in reinvestment dollars flowing to minority and lower income neighborhoods.

Lenders and community groups will often sign these agreements when a lender has submitted an application to merge with another institution or expand its services. Lenders must seek the approval of federal regulators for their plans to merge or change their services. The four federal financial institution regulatory agencies will scrutinize the CRA records of lenders and will assess the likely future community reinvestment performance of lenders. The application process, therefore, provides an incentive for lenders to sign CRA agreements with community groups that will improve their CRA performance. Recognizing the important role of collaboration between lenders and community groups, the federal agencies have established mechanisms in their application procedures that encourage dialogue and cooperation among the parties in preserving and strengthening community reinvestment.

A CRA agreement is often a comprehensive document that covers a wide range of loans, investments, and bank services. This publication first provides a detailed list, by state and year, of the number of CRA agreements, and lists the banks and community groups signing the agreements. It then covers, in depth, the innovative affordable housing, small business, and other products contained in CRA agreements....

...Two major factors contribute to the incredible burst of commitments since 1992. First of all, NCRC members and other community organizations are becoming increasingly sophisticated in terms of being able to articulate community needs as well as providing homeownership counseling and other types of services in partnerships with banks. There has been a strong growth in community organizations in the last few years. NCRC started off with a membership of 16 groups in 1992 and now has over 600 member organizations -- all of who either use CRA in their daily work or at least believe it is important to preserve and improve the law....

 

[AmericanFirst]

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans

President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.

As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans | The Daily Caller

"Fairness".

And dimwits wonder where the financial meltdown came from. Not very smart, are they?