Pricier loans add up to tens of thousands of dollars more in costs than for white borrowers, according to an analysis of Bank of America, Citibank and Chase lending.
Not surprising, the main enforcement and detection mechanism for biased lending is after the fact. There’s also a lot of room to use other factors to effectively discriminate without technically breaking the law.
Not surprising, the main enforcement and detection mechanism for biased lending is after the fact. There’s also a lot of room to use other factors to effectively discriminate without technically breaking the law.