The taking advantaged of disadvantaged populations is really a new trend. Up until 30 years ago,
the general practice was for banks to refuse to lend to minority borrowers in neighborhoods that
were outlined on maps in red ink. Eventually since race could not be used overtly in the decision
process, factors other than race figured in the bank’s decision to turn down for loans until greed
overpowered hate.
The majority of lenders who dealt in subprime mortgages specifically used them to exploit black
and lower income people, regardless of their credit histories. But what made it worse, as was
noted with banks like Well Fargo was that lenders intentionally offered only subprime loans
when other available options were available.
