patrick.net

Misc says

the worst offenders...those in DC.

Notice that the worse offender rates by state correspond to the 13%

I worked at Wells Fargo for a year as a contractor, and remember that they had big legal problems because objectively evaluating the probability of loan repayment without regard to race ended up with black people getting fewer loans than any other group.

Wells was accused of being "racist" and they were told to lower their lending standards for black people, because of the "disparate impact" of being objective.

Misc says

About 1 outta 4 didn't make last month's car payment.

On time payments is a racist concept.

You mean you have to keep making payments past the first one?

Good credit report is a sign of white privilege.

"I know what you are; you're all repo men!" Otto.

I remember the ad for some credit repair service:
Black man: "My credit card debt was OUT Rageous!"
I always laughed, like it was something that"happened" to him, not his fault at all.

"Money talks, bullshit walks."

I would not lend a dime to someone who doesn't look like I do, even then probably not either.
It's fuck or walk pal.

Al_Sharpton_for_President says

Misc says

About 1 outta 4 didn't make last month's car payment.

On time payments is a racist concept.

Creeping socialism.

About 16% of auto loans are sub-prime. There's about $1.3 trillion in outstanding auto loans. So roughly $200 billion in sub-prime loans. The major banks don't make sub-prime loans directly, but they do loan to the companies that make the loans to the "owners".

Suddenly, the people making loans @ 29% interest don't look that smart. They were just funneling money to people running their own personal ponzi schemes.

It's not as bad as I feared. Only about 5400 repos per day. About average for the industry.

https://www.driverra.com/car-repossession-statistics/