Discrimination on Basis of Ability to Pay is Just

Discrimination on Basis of Ability to Pay is Just

Discrimination of the bases of ability to pay back a loan should be legal. Democrats are dumber than dirt when they think hope people that do not quality for loans will pay back the loans.

This is not a Civil Rights issue but rather a economics issue.

Democrats loan money to people they hope will pay back the money and Republicans loan money to people they expect will pay back the money. Big Difference.

The Economic Disaster of 2008 was proof that sub prime loans are very very bad. The 1977 Community Reinvestment Act (CRA) started under the Carter Administration and was strengthened under the Clinton Administration. Every American has suffered because of this lousily piece of legislation that was created by democrats to buy black votes.

The Democrats can spin this issue as a discrimination issue, but they need to be called stupid and never ever be allowed to have control of the government.

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A Renewed Crackdown on Redlining

In the wake of the subprime implosion, the Obama Administration has stepped up its scrutiny of disadvantaged neighborhoods' credit access

By Clea Benson
BW Magazine
May 9, 2011

Community activists in St. Louis became concerned a couple of years ago that local banks weren't offering credit to the city's poor and African American residents. So they formed a group called the St. Louis Equal Housing and Community Reinvestment Alliance and began writing complaint letters to federal regulators.

Apparently, someone in Washington took notice. The Federal Reserve has cited one of the group's targets, Midwest BankCentre, a small bank that has been operating in St. Louis's predominantly white, middle-class suburbs for over a century, for failing to issue home mortgages or open branches in disadvantaged areas. Although executives at the bank say they don't discriminate, Midwest BankCentre's latest annual report says it is in the process of negotiating a settlement with the U.S. Justice Dept. over its lending practices.

The 1977 Community Reinvestment Act (CRA) requires banks to make loans in all the areas they serve, not just the wealthy ones. A Bloomberg analysis found the percentage of banks earning negative ratings from regulators on CRA exams has risen from 1.45 percent in 2007 to more than 6 percent in the first quarter of this year.