News:HF Reduces Lending Rates A week after the central bank’s monetary policy committee lowered its benchmark lending rate to 13%, more financial institutions are taki…
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Protesters say that Wells Fargo and some other major banks offers higher mortgage rates to minorities. The US Department of Justice says they have reached a …
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25 Responses to “News:HF Reduces Lending Rates”

  1. modernpanther says:

    See, I really wish it was as simplistic a picture as that. No doubt discrimination still exists and it should be addressed in court, but some minorities are all too eager to play the Race Card as an excuse when things don’t go the right way. Remember that case of the firefighter exam and the black applicants?

  2. wabdinur says:

    & yet they keep telling African Americans that they’re equal now :D

  3. ShamelessNation says:

    If Wells is innocent of these charges then why are they paying a settlement?

  4. damiaxxx says:

    The banks get sued for racism no matter what they do. There were a lot of banks that got sued because they didn’t loan to minorities when they didn’t qualify for the loans. Now they get sued because they give them loans and charge them a reasonable rate based on their credit rate. The only reason the bank asks what race you are is because they have to give a certain percent of their loans to African Americans.

  5. flowermamabee says:

    I thought the rates were higher only if your credit score was not good. It wouldn’t have anything to do with race. Credit scores are only lower if people do not pay their bills on time or do not pay them at all.
    Without checking every option for every person involved, it would be hard to prove they made only blacks interest rates higher. That would take a long, long time to do.

  6. hoomalumalu says:

    this is SO not true

  7. TheEsotericDesi says:

    Why is this even a news? This is something that happened even in the 1990s and govt was perfectly willing to stay silent… now, i’m not black or white but i knew it was totally wrong thing… Govt got involved only when shit hit the fan and white middle class got sucked into this greed-scandal…

  8. Evergr3entree says:

    Yet conservatives continue to insist that minorities should stop whining and stop putting race into everything, but the reason we do is because racism is still going on. Perhaps conservatives say this because they don’t experience as much racism…

  9. modernpanther says:

    Meanwhile, my otha brothas in the hood keep acting like a bunch of arrogant ignoramuses, and they will surely never rise.

  10. Mageria Kamau says:

    With this news, I can now begin believing some of the conspiracies I have been hearing about the intentions of the rich and powerful, and what they plan to do to the Minorities. !!!!

  11. moverling5 says:

    WOW! I have a 3.5% FR 30yr mortgage thru WellsFargo. My credit isn’t the best, plus I have a bankruptsy in the past. If anyone has a higher interest rate thru WellsFargo, they are making a “MINT” off of you. This is a very, very sad time we are in.

  12. SuperSoulForge says:

    So who does this money go to if not the claimants….. The goverment is like oh man you really fucked those people so you got to give us 175m to say that you did no wrong and we’ll let you continue on your way

  13. shussey100 says:

    What a sick sick sick society.

  14. Returnofthebrotha2 says:

    They do this to keep blacks down so they can never rise.

  15. RenegadeTimes says:

    The Big Boy Club doesn’t care about race. Everyone below them is identical to rob.
    Blatant corruption is the NEW deal !

  16. Matilde LeGiraffe says:

    Do like I did: take your money out of the big banks immediately, no matter where you live!

  17. dreicemoney says:

    In the past, banks like wells fargo refused to give blacks loans. So this does not surprise me. Countrywide is another bank guilt of over the top discriminatory practices which were a strong part of the company’s culture.

  18. freak3366 says:

    Actually saying your an American doesn’t make sense. You could be north American or south American. I would prefer slave to the united states or citizen of the united states. Just sayin.

  19. freak3366 says:

    It’s called modern slavery, you think that they have forgotten how to control certain colors? Think again.

  20. TheErtsj says:

    Nationality is American. African is race. But yes, discriminatory leading is wrong

  21. HenryDavidT says:

    They did nothing wrong; but they decided to give the Federal government a few bucks, for NO REASON!

    That’s how rich, powerful people do business: Lawyers who work for these corporate giants CAME STRAIGHT from the federal government: they wrote the LAWS we live & die by; now they make deals with their colleagues currently working FOR the government.

    The revolving door.

    ‘Tis why SOME people don’t want reforms & government oversight: THEY prefer powerful people decided how the world is run.

  22. VexZeez says:

    What if Occupy Wall Street told everyone to take their money out of Wells Fargo? It could be a yearly event. The best way to punish is by your own doing.

  23. dalecs47 says:

    When the managers of large companies get caught cheating we have got to put them in prison! Make the companies pay back what they stole through fraud plus a 100% penalty. That would discourage the stockholders from encouraging such criminal activities.. And put those managers responsible for the thefts and fraud in prison. Why don’t we do this? Because today paying fines for theft and fraud is just part of the cost of doing business and the regulators are either impotent or bought off.

  24. colourmegone says:

    The US is a deeply racist country and will remain so for the foreseeable future. Anyone who thinks differently is living in fantasy called “The American Dream”, because, as George Carlin once said, you’ve got to be asleep to believe it.

  25. cilcannonvryce says:

    Discriminatory lending…..derp. No shit. They get away with it because the fucking incompitent justice dept. Allows them to settle, nobody in the banker class goes to jail.

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