Loans distributing starting in 2011 have been to be granted under unsavory business practices. Toyota will be paying over 100,000 Black and Asian car buyers $21.9 million for over charging them on interest. The investigation was sparked by U.S. Department of Justice and the Consumer Financial Protection Bureau in 2013.
During the investigation it was found that Blacks paid 0.
27 and Asians paid 0.18 percent more in interest than whites.
From predatorial lending to discriminatory lending, people of color just can’t seem to catch a break. We often talk about how everyone is given the same opportunities in this country but every day we hear stories that are easily overlooked proving the exact opposite.
It’s unfortunate to hear these stories but worst part is the penalty for discrimination is a mere slap on the hand. They don’t mind writing a check and giving these people the money back that they stole from them because they’ve already invested the funds in the global economy and made a fortune from it. When a black who stole a backpack spent 3 years in solitary confinement until he took his own life and a black that stole millions from customers, made millions from the millions they stole, simply have to return to sender.
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