Wells Fargo announcing $125 billion effort to help (Hispanic) homebuyers and triple Hispanic wealth

Elle Driver

Elle Driver

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Da Caribbean breh said:
Well it's both kinda like how the Republican Party had black men voting from them when they passed the 13th 14th and 15th amendment. Then the democrats have solidly gotten the black vote since the voting rights act. This is mostly likely an attempt to lowkey fukk their money up like you said and still get huge amounts of Hispanic votes for well fargos political party
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And they was both behind the push for the prison industrial complex and the break down of the black family. Dems and Republicans were both shaking in they boots when brothas like Fred Hampton was around making speeches and inspiring our people, all at the age of 19-20, and then they killed him when he was 21. They scared of black folk, they know what is coming to them. :sas2:
 
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Mr.Big Meat McGee

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ORDER_66 said:
Yeah, ok... :mjlol:

The US is a bunch of hypocritical a$$holes... assimilate... you have the major presidental canidate running for office who's actually winning in the polls because mainstream white america agrees with him, to deport your relatives back to mexico and you're all rapists and killers. but your white in our eyes so it's cool. just come here legally...

Assimilate??? :russ:
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Mexicans aren't the only Hispanics.

Irish people used to be considered less than human then they were assimilated and classified as White.

They did the same for Italians.

White birthrates are bad and they need a new group to add to their White category. Since Europe is stable there's no need for Europeans to immigrate here like they did in the early 20th century.
 
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This is what happens when you focus all your efforts into fighting for criminals... others will continue to pass you.
 
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Poitier said:
Technically, we got loans in the 90s and 2000s and our wealth did increase but as we know, those were bad loans which ended up wiping out all gains. Who knows what the terms of this is.
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I'm thinking the same thing, seems like it laying the foundation for a future recession :patrice:
 
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Family Man said:
What's stopping y'all nikkas from claiming Hispanic too?
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They did, the US census asked if you are Black Hispanic or white Hispanic. The issue they ran into was Black Hispanic was filing white Hispanic. Now they are trying to separate by origin to Cuban, Mexican, central American and Puerto Rican. Notice how they left out the majority Black ones. They know who they want, it ain't nikkas. While Dominicans think they are accepted now, they will soon face backlash from other hispanics when cacs start choosing. It's like joining a football conference, when the money matters, some get left out. In this case, it will be what nation are you from. They did this to the American Indians. Told the Cherokee to kick out the Blacks. They did and THAT'S when they started get forms of reparations. Even now, they go out there way to denounce Blacks but accept lazy whites in a millisecond.
 
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ridedolo said:
no, we're ignoring ourselves and have been since "integration".

there are 21 black owned banks in america, go do business with people who don't hate you for your skin color
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:leon: had no idea there's one right up the street from one of my places. Definitely going open up an account next week....
 
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GodinDaFlesh said:
Targeting minority groups with high-interest loans?
Wells Fargo Deliberately Pushed Dangerous Loans On Blacks, Hispanics: Lawsuit :jbhmm:
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Once again, this is completely different but look at the difference for Blacks even compared to Latinos.

Of the 34,000 minorities that Justice said were subjected to discrimination, 4,000 were improperly steered into subprime loans. It estimates they will receive an average of $15,000 each under the settlement.

The problem, Justice found, was that brokers could earn more money making subprime loans than by originating prime mortgages. The company capped compensation at 4.5 percent of a prime loan, while the cap for subprime mortgages was 5 percent. That translated into a $1,500 difference for an average loan of $300,000 and created an incentive for brokers to originate as many subprime loans as possible.

Wells Fargo tried to address the issue by creating a filter intended to identify prime customers. But according to Justice, brokers easily bypassed the process by encouraging borrowers to skip the down payment or withhold certain documents — steps disqualifying them for a prime loan. Often borrowers were not told that they were eligible for a better interest rate.

Federal investigators said senior Wells Fargo officials knew about those practices but did little to stop them.

In addition, even when black and Hispanic customers got prime loans, they paid higher fees than white borrowers, Justice alleged. The average African American taking out a $300,000 prime loan was charged $2,064 more in broker fees than a similarly qualified white customer. Latino borrowers paid an average of $1,251 more.

“The department’s action makes clear that we will hold financial institutions accountable, including some of the nation’s largest, for lending discrimination,” Deputy Attorney General James M. Cole said.

Wells Fargo said Thursday that it will no longer work with independent mortgage brokers, which originate about 5 percent of its loan volume.

As part of the settlement, it is also reviewing subprime mortgages made by in-house loan officers to determine whether any black or Latino borrowers may have qualified for prime mortgages instead. The compensation for those customers would be added to the $175 million settlement.
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Because this is carried out by Hispanics with LOW interest rates and free education and cash allotment which is what cacs got after WW2. There is no comparison nikkas so stop trying to hope they get screwed like we always do. This is that softcore Richard Sherman c00ning I after and say is one of the biggest issues in the Black community.
 
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