The rule would establish a controversial standard for determining if discrimination was taking place in mortgage lending. Critics say such a standard would lead to more lending by banks to borrowers less able to repay their debts.
Lending is something that should never involve a third party. The lender has every right, and more so the responsibility, to make a careful choice about who may borrow. Especially, when loaning other people's money.
The solution is nor to force lenders to follow some government guidelines. The solution is more competition. If some are being unfairly discriminated against, they are a business opportunity for other lenders. This is just another example of governmental idiocy.
No comments:
Post a Comment