In the wake of the subprime implosion, the Obama Administration has stepped up its scrutiny of disadvantaged neighborhoods' credit access
Sigh...:sad:
In the wake of the subprime implosion, the Obama Administration has stepped up its scrutiny of disadvantaged neighborhoods' credit access
It was predicted by many
SPEND! SPEND! SPEND! even if its not yours. Seems to be a theme these last 2 years....
SPEND, SPEND, SPEND
That's been America's motto for as long as I can remember. That's why the country is F'd, yes it's partly the blame of Gov't and credit company's but it all falls on the American people out living their means trying to "Keep up with the Jones".
Just like the raid on bin Laden's compound, too many are quick to criticize Obama without looking at the real facts.
It does say that they are investigating some of the practices used for determining credit-worthiness. And anyone wanting to criticize them for such investigations, go ahead. I, too, think that some of these practices not only aren't discriminatory, but are just plain, simple, sound business sense.
...some lenders are being cited for failing to operate in minority and low-income census tracts near their branches, even when they have never done business there before. "If you put your branches only in upper-income areas, the regulators are not accepting that anymore," says Warren W. Traiger, a lawyer at BuckleySandler in New York, which advises banks on fair lending issues.
It's not as though the "real facts" are readily available for anyone to look at.
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