How do we get this done, and stop Biden from reversing it?

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How do we get this done, and stop Biden from reversing it?

Postby jdege on Mon Nov 23, 2020 6:43 pm

https://www.occ.treas.gov/news-issuances/federal-register/2020/nr-occ-2020-156a.pdf
Notice of proposed rulemaking.
SUMMARY: The Office of the Comptroller of the Currency is proposing a regulation to ensure
that national banks and Federal savings associations offer and provide fair access to financial
services.
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Re: How do we get this done, and stop Biden from reversing it?

Postby Sorcerer on Mon Nov 23, 2020 9:45 pm

Sounds like 2.0 of the housing crash. Give anyone a loan regardless. Then blame the lenders of predatory lending. In 1991 we paid $85,000 for our home. After the crash with all the repoed houses in our area the value of our home dropped from $220,000 down to $92,000. We are now just under $200,000 valuation. The same thing effected the auto industry. All those people ended up with even crappier credit than What they had before.
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Re: How do we get this done, and stop Biden from reversing it?

Postby Holland&Holland on Mon Nov 23, 2020 11:12 pm

Sorcerer wrote:Sounds like 2.0 of the housing crash. Give anyone a loan regardless. Then blame the lenders of predatory lending. In 1991 we paid $85,000 for our home. After the crash with all the repoed houses in our area the value of our home dropped from $220,000 down to $92,000. We are now just under $200,000 valuation. The same thing effected the auto industry. All those people ended up with even crappier credit than What they had before.

You must not be in the metro. 200k houses are not staying on the market an hour.
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Re: How do we get this done, and stop Biden from reversing it?

Postby jdege on Tue Nov 24, 2020 12:48 am

Sorcerer wrote:Sounds like 2.0 of the housing crash. Give anyone a loan regardless. Then blame the lenders of predatory lending. In 1991 we paid $85,000 for our home. After the crash with all the repoed houses in our area the value of our home dropped from $220,000 down to $92,000. We are now just under $200,000 valuation. The same thing effected the auto industry. All those people ended up with even crappier credit than What they had before.


This isn't saying anything at all about loans.

It's about refusing financial services to legal businesses.
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Re: How do we get this done, and stop Biden from reversing it?

Postby Rip Van Winkle on Tue Nov 24, 2020 6:22 am

jdege wrote:
Sorcerer wrote:Sounds like 2.0 of the housing crash. Give anyone a loan regardless. Then blame the lenders of predatory lending. In 1991 we paid $85,000 for our home. After the crash with all the repoed houses in our area the value of our home dropped from $220,000 down to $92,000. We are now just under $200,000 valuation. The same thing effected the auto industry. All those people ended up with even crappier credit than What they had before.


This isn't saying anything at all about loans.

It's about refusing financial services to legal businesses.

Won't survive long under the Sleepy Joe Administration.
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