I completely agree with you Mike. I was just simply letting everyone know
what is going around, but I do understand what your saying. I may quite
possibly be that the percentage of blacks to whites that happen to buy
Nissan's cars are at higher risk... got me?
Greg
-----Original Message-----
From: mike kojima [mailto:[EMAIL PROTECTED]]
Sent: Tuesday, July 10, 2001 6:40 PM
To: Sentra Mailing List
Subject: Re: SML-NON-P: Nissan being sued for overchargine Blacks....
Don't belive everything you read in the news. The
news slants things to make them motre interesting and
contraversial to get better ratings. Not that I know
anything but I bet the the facts on the story is
because higher risk loans get charged more fees and
higher interest rates.
When a credit app is filled out with your personal
info, it is just processed like any other loan. When
getting loans, I don't remember ever filling out what
race I was on the application form for any sort of
credit, just stuff like my employment history, my
credit history and how much I make.
It probably is a matter of what race the people who
ended up in the higher risk, higher interest rate
loans ended up being. I bet that they were not
selected or profiled based on race. That would be
unethical. Business wise there is nothing wrong with
charging higher risk applicants higher rates though
when it is not based on race.
Mike
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