Kansas Crimson

TDub wrote: ↑Sun Dec 17, 2023 11:06 am Anybody that thinks the housing market is to be directly blamed on a single administration is nothing but a team sports political fan. The housing market has been impacted by decisions made by multiple administrations over the last 20 years.

jfish26 wrote: ↑Sun Dec 17, 2023 11:51 am

TDub wrote: ↑Sun Dec 17, 2023 11:06 am Anybody that thinks the housing market is to be directly blamed on a single administration is nothing but a team sports political fan. The housing market has been impacted by decisions made by multiple administrations over the last 20 years.

And, it’s a market that takes longer to change directions than makes sense to blame it on any particular administration or party/group.

Shirley wrote: ↑Mon Dec 18, 2023 8:41 am Heard on the Prof G podcast this morning:

Scott Galloway: I would argue that Time's Person of the Year should have been Fed President Jerome Powell. I think he is, I mean, Jesus Christ, what do Americans want from the economy? It's the fastest, largest economy in the world with the lowest inflation. I mean, how do you even do that? That makes no sense to me economically.

Ed Olson: I was looking back at some of the headlines from a year ago:

Bloomberg: "US recession this year more likely than not.

Forecast for US recession within year reaches 100%."

Scott: 100%, every economist they surveyed predicted a recession.

Ed: Yet, here we are today with the Dow Jones Industrial average up 12%

S&P 500 up 23%

Nasdaq up 42%

Unemployment rate 3.9%

And inflation is down to 3.1%...

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

twocoach wrote: ↑Thu Dec 21, 2023 9:28 am

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

No, they informed banks that "while the Equal Credit Opportunity Act allows a creditor to consider an applicant’s immigration status when necessary to ascertain the creditor’s rights regarding repayment, creditors should be aware that unnecessary or overbroad reliance on immigration status, including when that reliance is based on bias, may run afoul of the law."

https://www.consumerfinance.gov/about-u ... pplicants/

The "logic of the move here" is to ensure that banks follow the law and give credit to applicants who have the ability to pay back the loan, regardless of their perceived immigration status as well as to help protect banks from creating blanket policies that put them in violation of a person's civil rights., opening them up to civil litigation and fines.

Here is the full joint statement made by the Justice Department and the Consumer Financial Protection Bureau:

https://files.consumerfinance.gov/f/doc ... A2oRDf.pdf

twocoach wrote: ↑Thu Dec 21, 2023 9:28 am

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

No, they informed banks that "while the Equal Credit Opportunity Act allows a creditor to consider an applicant’s immigration status when necessary to ascertain the creditor’s rights regarding repayment, creditors should be aware that unnecessary or overbroad reliance on immigration status, including when that reliance is based on bias, may run afoul of the law."

https://www.consumerfinance.gov/about-u ... pplicants/

The "logic of the move here" is to ensure that banks follow the law and give credit to applicants who have the ability to pay back the loan, regardless of their perceived immigration status as well as to help protect banks from creating blanket policies that put them in violation of a person's civil rights., opening them up to civil litigation and fines.

Here is the full joint statement made by the Justice Department and the Consumer Financial Protection Bureau:

https://files.consumerfinance.gov/f/doc ... A2oRDf.pdf

Shirley wrote: ↑Thu Dec 21, 2023 9:45 am

twocoach wrote: ↑Thu Dec 21, 2023 9:28 am

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

No, they informed banks that "while the Equal Credit Opportunity Act allows a creditor to consider an applicant’s immigration status when necessary to ascertain the creditor’s rights regarding repayment, creditors should be aware that unnecessary or overbroad reliance on immigration status, including when that reliance is based on bias, may run afoul of the law."

https://www.consumerfinance.gov/about-u ... pplicants/

The "logic of the move here" is to ensure that banks follow the law and give credit to applicants who have the ability to pay back the loan, regardless of their perceived immigration status as well as to help protect banks from creating blanket policies that put them in violation of a person's civil rights., opening them up to civil litigation and fines.

Here is the full joint statement made by the Justice Department and the Consumer Financial Protection Bureau:

https://files.consumerfinance.gov/f/doc ... A2oRDf.pdf

Thanks for correcting Randi's false, ignorant post. If he had any self-respect, any sense of shame, he'd be more careful about what he posts.

But he doesn't,
So he won't.

DeletedUser wrote: ↑Thu Dec 21, 2023 9:52 am

twocoach wrote: ↑Thu Dec 21, 2023 9:28 am

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

No, they informed banks that "while the Equal Credit Opportunity Act allows a creditor to consider an applicant’s immigration status when necessary to ascertain the creditor’s rights regarding repayment, creditors should be aware that unnecessary or overbroad reliance on immigration status, including when that reliance is based on bias, may run afoul of the law."

https://www.consumerfinance.gov/about-u ... pplicants/

The "logic of the move here" is to ensure that banks follow the law and give credit to applicants who have the ability to pay back the loan, regardless of their perceived immigration status as well as to help protect banks from creating blanket policies that put them in violation of a person's civil rights., opening them up to civil litigation and fines.

Here is the full joint statement made by the Justice Department and the Consumer Financial Protection Bureau:

https://files.consumerfinance.gov/f/doc ... A2oRDf.pdf

Thanks for posting.

I was going to explain in my own words and would have done an inferior job explaining than those posts did.

randylahey wrote: ↑Thu Dec 21, 2023 9:17 am So the biden administration threatened banks not to deny illegal immigrants loans based on their illegal status.

What's the logic in this move?

Is there any thing this administration doesn't do for illegals? No wonder we have a border crisis and there is so much incentive to illegally immigrate here

Giving loans to illegal immigrants is a clear and easy way to put financial institutions at risk

twocoach wrote: ↑Thu Dec 21, 2023 9:58 am

Shirley wrote: ↑Thu Dec 21, 2023 9:45 am

twocoach wrote: ↑Thu Dec 21, 2023 9:28 am

No, they informed banks that "while the Equal Credit Opportunity Act allows a creditor to consider an applicant’s immigration status when necessary to ascertain the creditor’s rights regarding repayment, creditors should be aware that unnecessary or overbroad reliance on immigration status, including when that reliance is based on bias, may run afoul of the law."

https://www.consumerfinance.gov/about-u ... pplicants/

The "logic of the move here" is to ensure that banks follow the law and give credit to applicants who have the ability to pay back the loan, regardless of their perceived immigration status as well as to help protect banks from creating blanket policies that put them in violation of a person's civil rights., opening them up to civil litigation and fines.

Here is the full joint statement made by the Justice Department and the Consumer Financial Protection Bureau:

https://files.consumerfinance.gov/f/doc ... A2oRDf.pdf

Thanks for correcting Randi's false, ignorant post. If he had any self-respect, any sense of shame, he'd be more careful about what he posts.

But he doesn't,
So he won't.

He just passes whatever 2-line inaccurate statement he reads in one location over to here. Some people are intellectually curious and when they hear something that sounds off or unfamiliar to them say, "I wonder if this is true, I should check" or "I wonder what this involves, I want to learn more about it" and others are intellectually stagnant and just assume that whatever they read that fits their belief system is true and whatever they read that does not fit their belief system is not true.