African American and Latino borrowers continue to pay higher interest rates on their mortgages – even when the loan is completed online. A recent study by the University of California Berkeley revealed minority homebuyers pay up to half a billion dollars more in interest every year than white borrowers with comparable credit scores. The study asserts that in the fintech era, the mode of lending discrimination has shifted from human to algorithmic bias.
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8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148