
Obama Makes New Push for Minority Mortgages
The Obama administration is demanding that minorities again receive preferences to qualify for mortgages–the same policy that helped trigger the sub-prime mortgage crisis and the 2007-8 financial crash.

The Obama administration is demanding that minorities again receive preferences to qualify for mortgages–the same policy that helped trigger the sub-prime mortgage crisis and the 2007-8 financial crash.

The Office of the Comptroller of the Currency (OCC), which regulates the financial risks posed by the lending activity of American national banks, has officially reported that banks are expanding sub-prime credit by raising borrowing limits for credit card holders. The new concerns follow an OCC report last June that flagged “problematic” recent high-risk corporate takeovers, car loans through auto dealers, and commercial finance lending.