The nation’s largest credit union rejected more than half its Black conventional mortgage applicants | CNN Business
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A major credit union serving military members and veterans rejected more than half of its Black conventional mortgage applicants

I’m not super happy with the lack of supporting data, just colorful graphs and a lot of emotional anecdotes but there is a clear disparity that I think warrants greater investigation. I love the credit union movement and was shocked to read this article. I would love to hear your opinions lemmings!

  • corroded@lemmy.world
    91·
    11 months ago

    How would a bank or credit union even know what racial background a loan applicant comes from? I have a mortgage, and I’ve had auto loans and personal loans in the past. Not once did I ever see a bank employee face-to-face, even for my mortgage.

    A suppose the sound of a person’s voice or their name could give some clues on certain occasions.

    • lurch (he/him)@sh.itjust.works
      13·
      11 months ago

      In the US lots of forms have race or ethnicity input fields. It always baffles me as a European. Like how is that relevant, except for discrimination.

      • zigmus64@lemmy.world
        11·
        11 months ago

        I think the logic is to track data like this… I’ve never understood it either though…

        • MechanicalJester@lemm.ee
          3·
          11 months ago

          Very much for this. In schools in decent states the students self identity. That is then used to look for over representation in suspension or expulsion.

          How else can mathematically prove bias or discrimination?

          Individually, the ethnicity is known or presumed by staff but without it being known systemically it can’t be addressed systemically.

        • ryathal@sh.itjust.works
          1·
          11 months ago

          It’s easier to ask for it upfront and ban companies from using than try and reconstruct the data to analyze after the fact. There scale of discrimination was so severe in housing the government forces this information to be collected and reported for all applications, because it’s easier to detect the discrimination that way. There’s also penalties for not submitting the race or ethnicity on enough applications.

    • ShortBoweledClown@lemmy.one
      9·
      11 months ago

      They run your information against a number of services when you apply for a loan. That data is 100% available to them. Source: I work with this data daily.