Cries of Racism Over Bank of America’s New Mortgage Program Miss the Bigger Issue
Bank of America on Tuesday announced a program to help first-time homebuyers in select communities across the country obtain affordable home loans by nixing closing costs and down payments.
The Community Affordable Loan Solution will be available for certain black and Hispanic neighborhoods in Charlotte, Dallas, Detroit, Los Angeles, and Miami, though a bank representative claimed applicants don’t necessarily have to be Hispanic or black to qualify.
A statement announcing the program specifically addresses the homeownership disparity between white and black Americans and hispanic and white Americans. . .
In California, this would seem to violate the Unruh Act. Also federal Title VIII … Bank of America announces zero down payment mortgages for Black and Latino homebuyers https://t.co/zzFDWhrmK5 via @nbcnews
— Harmeet K. Dhillon (@pnjaban) September 1, 2022
Hey Americans who happen to be white:
You bailed out Bank of America when they (and every other big bank) nearly collapsed the economy.
Now…BofA pays you back with an explicitly race-based lending program that overtly discriminates against white people.
Had enough??? pic.twitter.com/0SJFRXebaW
— Steve Cortes (@CortesSteve) September 1, 2022
2008 called. They want their cause for the Great Recession back. https://t.co/4si5VYGs7C
— Jason Buttrill (@JasonButtrill) September 1, 2022
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