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Accounting for income, but not accounting for indebtedness and more crucially, debt delinquency. It'd be one thing if these lenders were disproportionately tar
by heptathorp 11y ago
Accounting for income, but not accounting for indebtedness and more crucially, debt delinquency.
It'd be one thing if these lenders were disproportionately targeting black borrowers and letting white borrowers slide. But that doesn't seem to be the case.
- superuser2 11y agoAs you say, they found a racial, not socioeconomic, difference in debt lifecycles. That's why it's racial.
- VanillaLime 11y agoOne paragraph later, they also propose that the disparity is likely because black families have less accumulated household wealth and so are more likely to end up in delinquency than white borrowers of the same income. Like a lot of racial disparities, it doesn't come down to explicit racism by companies or debt collectors, just by a confluence of societal factors that leave minorities in a more precarious financial position.