'It's anti-racism,' Vivek Ramaswamy calls out Bank of America's ‘bias’ for Black, Hispanic communities
Hindustan TimesVivek Ramaswamy blasted Bank of America for its move to provide home loans “without down payment” to people from Black and Hispanic Communities. “The Community Affordable Loan Solution is a Special Purpose Credit Program which uses credit guidelines based on factors such as timely rent, utility bill, phone and auto insurance payments,” Bank of America said online, adding that no mortgage insurance or minimum credit score will be needed. The eligibility of the individual is based on income and home location, it said, adding that any individual from “any race or ethnicity is welcome to apply.” “This new program is in addition to and complements Bank of America’s existing $15 billion Community Homeownership Commitment to offer affordable mortgages, industry leading grants and educational opportunities to help 60,000 individuals and families purchase affordable homes by 2025,” the bank wrote. “Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families, and it is part of our broader commitment to the communities that we serve.”
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