The CFPB was designed by Elizabeth “squaw” Warren and let us not forget the original progenitor of “you didn’t build that”. Well this agency is about to recreate the subprime lending crisis by forcing banks to accommodate otherwise uncreditworthy blacks and hispanics with home loans! Even if their income is dependent upon welfare!
Here are the bullet points of the program:
- Fine banks for past discriminatory lending pratices
- Bank must offer “borrowing assistance” in the form of “grants” to help the blacks and hispanics
- The federal government is going to regulate the credit rating agencies to “soften” their ratings of blacks and hispanics
Please read the entire article by William Tucker at the American Spectator here: