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Bank of America was founded in 1904 -- well before credit scores became a thing -- to provide banking services to Italian-Americans, who could not usually obtai
by pjlegato 5y ago
Bank of America was founded in 1904 -- well before credit scores became a thing -- to provide banking services to Italian-Americans, who could not usually obtain service from other banks due to ethnic discrimination.
- mbg721 5y agoIt's also worth noting that banks couldn't operate across state lines until sometime in the 80s, so it wasn't unusual to see a lot of different smaller banks.
- InTheArena 5y agoWhich is a good example of why you need financial systems to eliminate ethnic and religious biases in lending.