Niggers+Cheap Credit=Bubble, Federal Reserve lowers bank standards for personal loans
The Federal Reserve wants make it easier to approve personal loans
‘The agencies recognize that use of alternative data may improve the speed and accuracy of credit decisions,’ they said in a joint statement
Quote:
It could become easier for some personal-loan applicants to secure a loan after federal regulators announced this week that they encourage the use of “alternative data” in credit underwriting standards — so long as it’s done responsibly.
"Alternative Data"- i.e. the pimp game, the drug trade and the 'hustle.' LOL
https://i.imgur.com/9eEFszV.jpg
Quote:
“To the extent firms are using or contemplating using alternative data, the agencies encourage responsible use of such data,” said the joint statement comes from the Fed, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the National Credit Union Administration.
“The agencies recognize that use of alternative data may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers who currently may not obtain credit in the mainstream credit system,” they said.
Hey, didn't the housing bubble happen when they let every useless and shiftless nigger have a home loan even when it was blatantly obvious that they couldn't afford it? Let's just double down then, eh?
https://www.marketwatch.com/story/fe...?mod=home-page
