Rep. Tlaib Claims Banks Charged Higher Interest Rates if Applicant Had an Accent

‘We also see that big banks, mortgage industry, others .... there’s still institutional systemic racism within their processes’

EXCERPT:

TLAIB: “But yes, economic stability is so tied to home ownership. And the fact of the matter is it's not only what happened here with this tax foreclosure crisis and, you know, I think illegal taking; is that we also see that big banks, mortgage industry, others, there are still institutional systemic racism within their processes. We see it with settlement cases all across the country over and over again. I remember specifically in the Financial Services Committee hearing about a whistleblower within Wells Fargo that was saying that — he was taught and trained that if somebody came in with an accent, to give a higher interest rate.” 

Video files
Full
Compact
Audio files
Full
Compact
Similar stories
Peter Navarro Blames Sinking Dow on Interest Rates: ‘Basically the Federal Reserve’s Problem’
Lacy Hunt: Low, Negative Long-Term Interest Rates Indicate Poor Business Conditions
Rand on Audit-the-Fed: ‘If Average Joe & Jane Printed Their Own Money ... They’d Be Jailed’
Trump on Interest Rates: I’m Very Disappointed in the Fed
Fmr. Fed Governor Lindsey: Low Interest Rates Buy Time, But Don’t Force Structural Reform