quote:

ORIGINAL: MrRodgers

Well we knew the Fed would go along as they are after all..bankers.

Secondly, I have to wonder why Ally didn't go to court to at least try for a summary judgment on the basis that the CRA does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution and in addition to the so-called discrimination being only shown via statistical analysis.

But in the end, yes, corrupt as hell and sounds like the dems are finally learning the game. I have never argued that any politician does not have his price but that historically at least since Nixon, the repubs have been easier to buy or more readily pander.

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

Well we knew the Fed would go along as they are after all..bankers.

Secondly, I have to wonder why Ally didn't go to court to at least try for a summary judgment on the basis that the CRA does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution and in addition to the so-called discrimination being only shown via statistical analysis.

But in the end, yes, corrupt as hell and sounds like the dems are finally learning the game. I have never argued that any politician does not have his price but that historically at least since Nixon, the repubs have been easier to buy or more readily pander.

You're late to the game - this is nothing new for the dems. This has been happening for more than a dozen years. As for why..

The costs of litigation in this country are too damn high - but more to the point, the bank was under fear that win or lose their lending license would be revoked.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

Well we knew the Fed would go along as they are after all..bankers.

Secondly, I have to wonder why Ally didn't go to court to at least try for a summary judgment on the basis that the CRA does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution and in addition to the so-called discrimination being only shown via statistical analysis.

But in the end, yes, corrupt as hell and sounds like the dems are finally learning the game. I have never argued that any politician does not have his price but that historically at least since Nixon, the repubs have been easier to buy or more readily pander.

You're late to the game - this is nothing new for the dems. This has been happening for more than a dozen years. As for why..

The costs of litigation in this country are too damn high - but more to the point, the bank was under fear that win or lose their lending license would be revoked.

Well the way I read it, Ally was going to be denied holding company status, that's all. Also, the way I read the CRA, that's the only 'enforcement' action that can be taken. As I've written, a close friend and owner of a mortgage co., has never ever made a single CRA loan. Now he also has never sought banking status etc. but on its own, violation of the CRA intent has been circumvented by many lenders/bankers. So yes, that corruption has been around for a long time and is a very, very bipartisan affair.

I also mean the dems are doing this on the cheap, repubs get paid (contributions) for often looking the other way, i.e. TARP for example. Example, we had 13 banks all presumably too big too fail and for years dealt shit paper. After TARP, we have 6 banks too 'bigger' to fail. Then they showered money on the repubs. Thank you, thank you very much.

All part of the negatives for Hillary as she too...will play ball. Why ? Because we know the repubs will, going in. Repubs in the bankers pocket, is never a question.

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

Nah, cockgargling should not be required reading, although nutsuckers read it as a requirement of their felch.

the real news:

http://www.consumerfinance.gov/blog/ally-settlement-administrator-will-contact-eligible-borrowers-soon/

Not statistical, they actually had real people doing real things that were not legal.


But thats some real good felch you got there.

quote:

ORIGINAL: bounty44

quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

Nah, cockgargling should not be required reading, although nutsuckers read it as a requirement of their felch.

the real news:

http://www.consumerfinance.gov/blog/ally-settlement-administrator-will-contact-eligible-borrowers-soon/

Not statistical, they actually had real people doing real things that were not legal.


But thats some real good felch you got there.

im sorry---note the BLOG part of your website above?

isn't it you who continually harps about blogs---what was it again, "nutsucker slobberblogs?" "it's from a blog---it didnt happen/cant be true/isn't real"

or do I have you confused with some other comrade?

next time you want to rail on someone else's post who used a blog for support or information, maybe you can remember this and out of a sense of fairness, be more accepting?

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: bounty44

quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

Nah, cockgargling should not be required reading, although nutsuckers read it as a requirement of their felch.

the real news:

http://www.consumerfinance.gov/blog/ally-settlement-administrator-will-contact-eligible-borrowers-soon/

Not statistical, they actually had real people doing real things that were not legal.


But thats some real good felch you got there.

im sorry---note the BLOG part of your website above?

isn't it you who continually harps about blogs---what was it again, "nutsucker slobberblogs?" "it's from a blog---it didnt happen/cant be true/isn't real"

or do I have you confused with some other comrade?

next time you want to rail on someone else's post who used a blog for support or information, maybe you can remember this and out of a sense of fairness, be more accepting?

consumerfinance.gov is not a blog, it is a governmental organization. The 'settlement' (something the great capitalist proletariat don't get to do) wouldn't even be a fact if it wasn't govt.

What part of "We found that Ally had a policy of giving dealers the discretion to increase or “mark up” consumers’ interest rates, and paying dealers for those markups. We found that between April 2011 and December 2013, Ally’s markup policy resulted in African-American, Hispanic, Asian and Pacific Islander borrowers paying more for auto loans than similarly situated non-Hispanic white borrowers." tells you otherwise ?

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: bounty44

quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

Nah, cockgargling should not be required reading, although nutsuckers read it as a requirement of their felch.

the real news:

http://www.consumerfinance.gov/blog/ally-settlement-administrator-will-contact-eligible-borrowers-soon/

Not statistical, they actually had real people doing real things that were not legal.


But thats some real good felch you got there.

im sorry---note the BLOG part of your website above?

isn't it you who continually harps about blogs---what was it again, "nutsucker slobberblogs?" "it's from a blog---it didnt happen/cant be true/isn't real"

or do I have you confused with some other comrade?

next time you want to rail on someone else's post who used a blog for support or information, maybe you can remember this and out of a sense of fairness, be more accepting?

consumerfinance.gov is not a blog, it is a governmental organization. The 'settlement' (something the great capitalist proletariat don't get to do) wouldn't even be a fact if it wasn't govt.

What part of "We found that Ally had a policy of giving dealers the discretion to increase or “mark up” consumers’ interest rates, and paying dealers for those markups. We found that between April 2011 and December 2013, Ally’s markup policy resulted in African-American, Hispanic, Asian and Pacific Islander borrowers paying more for auto loans than similarly situated non-Hispanic white borrowers." tells you otherwise ?

A few things are interesting here.

The government had inside information due to its partial ownership of the company, due to TARP.
The shakedown occured just before re-licensing.
At the time of the settlement, the government did not have a lead plaintiff around whom to form a class action.

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

quote:

ORIGINAL: vincentML

quote:

ORIGINAL: Phydeaux


This article shows the government using the Community Reinvestment Act to shake down a bank when its license was due to be renewed.
Should be required reading for everyone.

http://nypost.com/2016/02/07/obama-bullied-bank-to-pay-racial-settlement-without-proof-report/

From the article: "The high-level memo, sent by top CFPB civil-rights prosecutors to the bureau’s director and revealed by a House committee"

Revealed by a House committee? Must be a public document. Or has the Republican House Committee marked it "secret"? A link to the document, please.

quote:

A link to the document, please.