Holder Launches Witch Hunt Against Biased Banks

Holder Launches Witch Hunt Against Biased Banks: "In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD.

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Another Reno protege, Perez has compared bankers to Klansmen. Only difference is, he said, bankers discriminate 'with a smile' and 'fine print.' He said this kind of racism, though more subtle, is 'every bit as destructive as the cross burned in a neighborhood.'

Perez has put in place an infrastructure to enforce 'fair lending' — including a first-of-its-kind Fair Lending Unit staffed with more than 20 lawyers, economists and statisticians.

He's appointed a special lending cop to run it — Special Counsel for Fair Lending Eric Halperin, who also worked for Reno. Before returning to Justice, Halperin was chief Washington lobbyist for the Center for Responsible Lending, an anti-redlining group that urged banks to relax lending standards for low-income urban borrowers before the crisis.

(Excerpt) Read more at investors.com ..."