Federal Reserve Reports African Americans High Risk

May 31, 2012

Housing and Mortgage

From Think Big Work Small – Wells Fargo settled for $400 million for REVERSE REDLINING! This is what is wrong with the housing/lending market. Banks and lenders have historically lent money setting an interest rate based on risk. This is good business. The case against Wells Fargo was erroneous, since African Americans constituted a majority of the population in Shelby County, Tennessee. The Federal Reserve supports risk based lending pricing. Lawsuits like this one are brought in the name of “economic” or “social” justice, and it is all just another means of wealth redistribution.

, ,

About laura997

Ordinary citizen concerned with the direction our country is headed.

View all posts by laura997


Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: