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There is a couple of quotes from American Banker where the CFPB says it would rather make a few big fines to make a point than make a rule.  Regarding their “race algorithm” CLICK HERE to see if they get your race right.



additional comments on
"CFPB Says They’d Rather Fine than Make Rules"

  1. Kevin Strika says:

    You may have gotten an invalid result for Marjorie because you typed her full name into the field that asked for her surname. Try running the query on her last name and address.

  2. Frank, you gave yourself away when you called mole "enchilada sauce".

    PS – there's nothing more racist than to profile someone by stereotype (i.e. name, address, vehicle puchased). Let me guess what races they found dominated the Cadillac and Buick dealerships.

  3. "A human must turn information into intelligence or knowledge. We've tended to forget that no computer will ever ask a new question."
    Grace Hopper
    Rear Admiral, United States Navy
    Computer Programming Pioneer

  4. NANCY VIEJO says:

    Ok so if I put my birth name in which is Italian Im white. If I put my married name in Im Hispanic. So if you dont make a rule how do you break a rule to be fined? How nuts is this guy?

  5. The surname "Garay" is a Spanish (Generally European Spanish, as opposed to South American Spanish) surname, it is named after a town in Northern Spain. Not many people lived here.

  6. The surname "Garay" is a Spanish (Generally European Spanish, as opposed to South American Spanish) surname, it is named after a town in Northern Spain.

  7. Jim Robinson says:

    When I put my name with a zip code in my area that is considered more “white” then I am 84% white. When I put my name in with a zip code in my area that is more “minority” then I am 84% black.

  8. David Santos says:

    My last name is Santos and my family is from Guam also. The system had me at 60% Hispanic, 20% Asian, then 15% Islander. I wonder if Marjorie's husband may be my cousin?

  9. This is ridiculous!! You mention it making its ways to the Real Estate World, news flash….it already has!!! Zillow and their algorythms are also a joke!!

  10. Leslie says:

    The computer results seem to mirror the ethnic diversity, or lack thereof, within a given zip code, sort of. Why did Honda not show that their lending was based upon FICO scores and other criteria, having nothing to do with the race? They could be completely “color-blind” and still come up with the same rates/terms based upon a whole lot of other factors. This seems crazy to me?!?

  11. You have posted several videos about the rogue CFPB and their far-reaching tactics. I beg you to testify on Capital Hill about this; you guys are the experts! A lot of this info is swept under the rug and I doubt if the members of Congress are aware of what is going on with the CFPB.

  12. Viva la Revolucion says:

    So tired of this crap.

  13. Heidi Williams says:

    This is funny – ha, ha!

    There is a 64.03% chance I’m Black (non-Hispanic) since my last name is Williams and I live in 94602

    There is a 59.6% chance Vincent is White (non-Hispanic) since his last name is Williams and he lives in 94110

    It is just the opposite, I am white and Vincent is black.

  14. Cathy Bok says:

    Seems like it is tied more to a zip code and the name than just the name. If you put in a last name and use a zip code in the middle of the city you get one result, if you use the same name and put that person in the suburbs, different result altogether….so I think it is zip code discrimination.

  15. Dora Griffin says:

    If someone is a racist they are a racist. Write all the rules you want it is going to take a long time until it lessens. I can guarantee you the classes you mention pay more for cars/interest. I sadly dated a car salesman for way too long and know how they operate. Part of it is racism, but mostly it is about tricking somone into paying the most they will. The whole problem is that the cfpb should not be regulating every purchase a person makes.

  16. Spencer Hill says:

    I’m 84% probability that I am black….Wrong!!!!

Comments are closed.