Biden is funneling Billions of dollars to the Black community through various programs you both siders are c00ns and idiots.

[Dafunkdoc_Unlimited]

So this scheme IS available to millions of white people

Only if they identify as 'Spanish', not 'White'.​

If you read my last post out of all of the MDIs only 19/144 are majority black.

https://www.fdic.gov/regulations/resources/minority/2022q1.xlsx

19/144 are black banks
73/144 are asian banks
19/144 are Native American banks
31/144 are Hispanic banks
2/144 are “multi racial”

So like I said, more money will be going to Hispanics than blacks. But as the data shows you right there, Asian banks will get even more.

Money may be going to Hispanic banks, but, 15% of Hispanics CAN'T QUALIFY FOR ANY LOANS FROM THE FED BECAUSE THEY ARE ILLEGAL/UNDOCUMENTED.

Also, there's the little fact that Black people use the same banks as Hispanics.

There's also more than a few dollars going to Community Development Organizations/Non-Profits SPECIFICALLY catering to Black people who qualify above and beyond Asians because of income/population, and Hispanics because they lack documentation.

So, no, neither Hispanics nor Asians will be getting more money than Black people.​

 

[Skewton]

Only if they identify as 'Spanish', not 'White'.

Money may be going to Hispanic banks, but, 15% of Hispanics CAN'T QUALIFY FOR ANY LOANS FROM THE FED BECAUSE THEY ARE ILLEGAL/UNDOCUMENTED.

Also, there's the little fact that Black people use the same banks as Hispanics.

There's also more than a few dollars going to Community Development Organizations/Non-Profits SPECIFICALLY catering to Black people who qualify above and beyond Asians because of income/population, and Hispanics because they lack documentation.

So, no, neither Hispanics nor Asians will be getting more money than Black people.​

On the census you can identify as white + Hispanic

White=race
Hispanic=ethnicity

I do understand blacks are being helped though.

 

[Problematic Pat]

Biden's Budget Increases CDFI Funding by 23% | Credit Union Times







Opinion | Fannie Mae’s New Racial Bias

"One program would assist black borrowers with down payments. Most home-buyers are required to put down at least 20% of the cost of a new home to reduce the risks of default. Fannie’s plan would effectively require taxpayers to subsidize down payments for black borrowers. Revenue that Fannie earns on its mortgage portfolio is retained as capital to protect taxpayers during a downturn. Under Fannie’s plan, some of that revenue would go to reducing down payments.

Another new program would reduce “loan level price adjustments” for black home buyers. Lenders typically charge higher rates for borrowers with lower credit scores, and Fannie says reducing them can “reduce obstacles for prospective Black homeowners.”

Still another program would “support the reduction of borrower closing costs for Black homebuyers”—for instance, via appraisal reimbursements"




They are being aggressive enough that right wing cacs are bytching and complaining.

They are pumping billions of dollars into programs that help Black folks put money down for homes and start businesses.

Stop being a contrarian and look into policy

Down payments won't matter when the average American let alone African American can't afford home prices.

Biden advisor: Starter home prices are through the roof.
POTUS Biden: let's offer African Americans who make $30,000 annually down payment assistance on half a million dollar homes.

DNC:

 

[OfTheCross]

@ the amount of research some of y'all are doing.


Ultimately, no matter how we break it down, the Black community will get Billions. All we have to do is ask like this young woman...:

 

[ColdSlither]

funny, i never meet black folks who benefit from all these lil minority programs

Because a lot of people don’t know about them, and they aren’t advertised like that. I’ve been watching MSNBC since 7am. No mention of it at all. But if someone from Korea comes over here and becomes a citizen, they’ll get all this information to help them out.

Now I’m not saying that this takes the place of something directly aimed at us. That is still needed. But there’s a lot of shyt out there to help out. Like here in NJ, Columbia Bank has a pretty good program for first time home buyers, in urban areas. So you can do a FHA loan through them, with 3% down, and I think no PMI.

 

[that guy]

Only if they identify as 'Spanish', not 'White'.

Money may be going to Hispanic banks, but, 15% of Hispanics CAN'T QUALIFY FOR ANY LOANS FROM THE FED BECAUSE THEY ARE ILLEGAL/UNDOCUMENTED.

Also, there's the little fact that Black people use the same banks as Hispanics.

There's also more than a few dollars going to Community Development Organizations/Non-Profits SPECIFICALLY catering to Black people who qualify above and beyond Asians because of income/population, and Hispanics because they lack documentation.

So, no, neither Hispanics nor Asians will be getting more money than Black people.​

Each bank will get funds. If Hispanics have 31 banks, Asians, have 73 banks, and black people have only 19 banks, black banks will get the least amount of money in total allocation. It has nothing to do with Hispanic population numbers. These are legal Hispanics with bank accounts and cash deposits and assets.

Black people use the same banks as Hispanics and white people use the same banks as black people etc etc. That’s the whole point. There’s no language in this program that states anything is going specifically to black people or even minorities. Saying “billions is going to the black community” is simply an assumption that the data doesn’t support. So far the math says black people will get less than $500 million. They didn’t even guarantee to allocate the full $9 billion.

This is compounded by the fact that black people rarely even know these programs exist.

 

[that guy]

Because a lot of people don’t know about them, and they aren’t advertised like that. I’ve been watching MSNBC since 7am. No mention of it at all. But if someone from Korea comes over here and becomes a citizen, they’ll get all this information to help them out.

Now I’m not saying that this takes the place of something directly aimed at us. That is still needed. But there’s a lot of shyt out there to help out. Like here in NJ, Columbia Bank has a pretty good program for first time home buyers, in urban areas. So you can do a FHA loan through them, with 3% down, and I think no PMI.

They claim that this program would help “black and brown” communities and then not even advertise these programs when they know these same communities almost never know these programs exist.

 

[The Gentleman]

If you read my last post out of all of the MDIs only 19/144 are majority black.

https://www.fdic.gov/regulations/resources/minority/2022q1.xlsx

19/144 are black banks
73/144 are asian banks
19/144 are Native American banks
31/144 are Hispanic banks
2/144 are “multi racial”

So like I said, more money will be going to Hispanics than blacks. But as the data shows you right there, Asian banks will get even more.

In addition to that, a white person can walk into any of these banks and apply for these funds because nowhere in the guidelines does it state that these funds are only available to minorities.

Black banks are only %13 of MDIs. 13% of $4.5 billion is only $500 million.

You see how Biden and his administration constantly puts y’all in the trick bag?

Oh shyt.

 

[Dafunkdoc_Unlimited]

There’s no language in this program that states anything is going specifically to black people or even minorities.

Absolutely False....​

It does, here ...

Treasury’s Community Development Financial Institutions Fund Opens Funding Round for CDFI Rapid Response Program

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the CDFI Rapid Response Program (CDFI RRP) today. The program will provide $1.25 billion to Community Development Financial Institutions (CDFIs)...

home.treasury.gov

Quickly and broadly deploying capital to communities that need it: The CDFI RRP is designed to quickly and broadly deploy capital to certified CDFIs, a designation for specialized organizations that provide financial services to low-income communities and those that lack access to financing, through a streamlined application and review process. Resources awarded to CDFIs will be used to help distressed communities and people respond to the economic impacts of the COVID-19 pandemic across the country. Importantly, with millions of Main Street small businesses – especially Black- and Brown-owned small businesses – struggling, supporting CDFIs is imperative. CDFI RRp grant funds may be expended for eligible activities such as financial products, financial services, loan loss reserves, development services, capital reserves, and certain operational activities.

​

 

[Dafunkdoc_Unlimited]

They claim that this program would help “black and brown” communities and then not even advertise these programs when they know these same communities almost never know these programs exist.

These programs ARE advertised.....



There's numerous radio/TV/Social Media advertisements as well as ALL utility companies informing their customers these programs exist.

That's how I get the majority of my clients.

If you qualify for ANY assistance from the Fed, you're automatically signed-up to participate in these programs unless you opt out.​

 

[Dafunkdoc_Unlimited]

Oh shyt.

'White' people don't qualify since they are NOT minorities and the amount banks get doesn't mean the funds are going to those specific communities, but to whomever qualifies. So, Black people going to an Asian/Hispanic bank are getting those funds regardless of how much that is.​

 

[OperationNumbNutts]

So a white woman qualifies as a minority?

When it comes to federal programs.....a very big yes. To be specific, white women actually make up the majority of small businesses contracting with the federal government classified a minority owned businesses.

Edit. Minority is getting to be a broad term because the alphabet people are now ranks minority or socially disadvantaged.

 

[OperationNumbNutts]

Sorry, but you're wrong. LGBT and 'White' women are not minorities according to Federal Guidelines and the funds are distributed according to financial criteria and population size. Black people qualify for the vast majority of these programs above and beyond Hispanics as almost 15% of them are illegal. Asians, Native Americans, etc., are a fraction of the available recipients and have substantially less avenues to even apply for the programs.​

I'm not trying to be an ass but you have no idea what you are talking about.

 

[Dafunkdoc_Unlimited]

It's patently obvious that unless some of you see Black people getting dollar bills put in their hands, then Black people are getting nothing at all even though the overwhelming majority of people benefitting from these programs ARE Black......

Weatherizing homes could be one of the most vital legacies of Biden’s infrastructure plan

As February’s Texas freeze highlighted, improving the resilience of our buildings and homes matters to our health, environment, and economy. The use of energy-efficient materials and other flexible, durable upgrades—including weatherization—can reduce climate risks and costs.

www.brookings.edu

This is why Hispanics and Asians will not be receiving nearly as much funding as Black people. Their energy burden isn't as high and the money is better-spent where it can garner the greatest savings-to-investment.

It's all a 'numbers game' and because Black people are disproportionately represented, they get the bulk of the funding for these types of programs.​

 

[Dafunkdoc_Unlimited]

When it comes to federal programs.....a very big yes. To be specific, white women actually make up the majority of small businesses contracting with the federal government classified a minority owned businesses.

Edit. Minority is getting to be a broad term because the alphabet people are now ranks minority or socially disadvantaged.

False. 'White' women and LGBTQ are not minorities and do not qualify.​