Friday, September 6, 2013

Obama Shaking-Down Banks In The Name Of Racism

The headline says it all and this report from Investors Business Daily gives the details on how Eric Holder and the Obama Regime are shaking-down banks in the name of racism....


(IBD) The opening salvo in a high court test of the administration's "disparate impact" theory shreds its justification for shaking down banks for alleged racism.

Under the dubious legal theory, which has a ridiculously low standard of proof, the Justice Department and HUD have extorted huge settlements from lenders even in cases where there was zero evidence of actual racial discrimination.

But a bruising brief filed last week by the petitioner in a landmark civil-rights case — Township of Mount Holly v. Mt. Holly Gardens Citizens in Action — could convince the Supreme Court that such disparate-impact claims are illegal.

The 48-page brief argues the administration, which earlier this year formalized its use of the theory to police "fairness" in housing and lending across all relevant regulatory agencies, is grossly misinterpreting the Fair Housing Act.

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Posted By: Chris Carmouche