When banks approve a higher percentage of loans to white applicants than to black applicants, that is automatically called discrimination, but when Asian-Americans are approved at a higher rate than whites, it is not.
I remember Björk saying that she felt like, no matter what stage in her career, if a man is credited on something that she's done, he's going to get the credit for it. And, unfortunately, that still rings true.
Subprime lending is growing faster in black areas than in white areas.
It has always been more expensive for the poor to borrow money. We see this in everything from mortgage rates to credit cards.
There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.
Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
Billy Jean King could not get credit when her husband was in law school and she was winning the Wimbledon, because he had to sign the cards. You know, you had these cases in the '70s of women who were mayors who couldn't get credit unless their husbands signed for them.
Historically marginalized populations have already had less access to wealth and credit building opportunities, and the continued use of credit histories to set auto insurance pricing compounds racial discrimination and exacerbates wealth inequality.
