Of course they failed to mention the prosecutions were a sham, the DOJ even admitted in court they didn’t consider all the factors in the lenders decisions… like credit scores.
In an end-of-year press release — posted under the banner headline “Accomplishments Under the Leadership of Attorney General Eric Holder” — the Justice Department boasts of charging “nearly 3,000” bankers with lending discrimination and fraud.
If all of them were guilty, this would be quite an accomplishment. Few would argue that prosecuting racists to the fullest extent of the law would be something worth crowing about.
But none of the race-bias cases highlighted by the administration was litigated in court. Evidence was never presented or tested, nor guilt ever proven. What’s more, no incident of discrimination was ever specified, and no individual complainants or victims of discrimination were ever identified.
All the major defendants — Bank of America, Wells Fargo and SunTrust Mortgage — settled while strongly denying Holder’s allegations that they charged blacks and Latinos a “racial surcharge” for mortgages simply because of the color of their skin.
In court documents, they argued that if Holder’s civil-rights prosecutors conducted an “appropriate analysis” of their loan data and loan-file documentation, it would have shown no disparate impact in product placement against African-Americans or Hispanics. They argued that any differences in loan pricing were attributable to legitimate, nondiscriminatory factors, such as poor credit.
When one defendant recently fought back in court, the administration admitted in a little-noticed court filing that, indeed, it had not considered all the credit factors that went into the lender’s decisions to charge higher rates for loans to minorities whose credit history left them unqualified for prime loans.