Friday, April 19, 2024

The SECU Board Has Just Announced A Pull Back from Race-Based Lending! Or has It...?

 #fireworks from All Fun, All The Time!  It appears that the SECU Board has adopted new lending policies for RBL!

✅ Instead of having 5 punitive interest rate tiers (A,B,C,D,E), now there are only 3 punitive interest rate tiers (A,B,C)! The "D & E's" have been eliminated!

Finally an admission by the "We Are" Board that their RBL policies are not only unjust [see how it discriminates here]?; but are also financially disastrous - as soaring credit losses and delinquency so painfully demonstrate [see rising losses here]?  

Progress at last? The "We Are's" are finally listening? Refunds will be made to members who have been overcharged? A new day is at hand?  

✅ If not, why the change? ... not so sure Rosa Parks would be grateful to learn that "she will now be allowed" to move up to the "middle" of the credit scoring bus.


....  wait a minute, wait a minute! Hold your Rosas: Isn't the new "middle-C" tier now - still! - the back of the bus?  

And what do you mean "D & E" have been eliminated?