Holder Shakes Down 'Racist' Banks For Nearly $1 Bil

[Geee]

Investors Business Daily:

War On Banks: Attorney General Eric Holder has opened up a new front against car lenders and has forged an alliance with the Consumer Financial Protection Bureau to frame them for racism, too.

 

We don't use the term "frame" capriciously, certainly not like Holder uses the charge of racism.

 

His department and the president's new consumer credit watchdog agency, CFPB, have announced a new settlement with Ally Bank for nearly $100 million.

 

It's the largest fair lending deal against the auto industry and the third-largest ever to resolve charges of lending discrimination.

 

Throw in four new mortgage-lender settlements over equally groundless allegations — including last month's $35 million joint Justice Department-CFPB hit on Cleveland-based National City Bank — and the total financial industry shakedown by this administration now stands at an eye-popping $810 million.