Question by thingsmustchange: What must be done in the financial lending markets to ensure fairness in lending practices from minorities?
The USA still struggles with acceptance of diversity, yet our well being as a country is greatly dependent upon the spending habits of minorities. Even with that reliance minorities are still treated like second class citizens when acquiring loans and credit cards. Not every minority has bad credit, just like not every white person has good credit. What will it take for equitable treatment to become a standard protocol in the financial industry?
Answer
Answer by spifiman1It already is. In today's world applications are submitted over the net to banks that have computers who make the majority of the decisions.
These computers have no way of knowing what the applicants race is. The decisions they make are based on the person credit profile period.
Add to this that it's a Federal law that you can not discriminate based on race. And it's
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