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Fifth Third Bank to Pay $18 Million Settlement For Charging Black Customers More Interest for Auto Loans

Fifth Third Bank

Fifth Third Bank


An Ohio-based bank has come under fire for charging Black and Latino customers more interest on auto loans, a joint investigation by the U.S. Department of Justice and the Consumer Financial Protection Bureau has found.

Fifth Third Bank, which has 1,300 banking locations in 12 states, has agreed to pay an $18 million settlement related to indirect auto loans made through dealerships. The bank allowed dealers to raise interest rates as they saw fit, which resulted in them charging customers of color $200 more over the course of auto loans than white customers. Some dealers charged customers as much as 2.5 percent more than the bank’s actual rate, or buy rate, for such loans.

The discrepancy was not related to how credit worthy the Black and Latino customers were, and dealers were reportedly allowed to pocket the additional interest as compensation. By charging these customers higher interest, the dealers received more money for loans from Fifth Third Bank.

A court must finalize the settlement, which will require the bank to make changes to its monitoring and compliance models. Fifth Third will also have to lower or eliminate dealer markups on interest rates. Dealers will not be able to raise interest rates to more than 1.25 percent of the buy rate on auto loans that span five years or fewer. Longer loans may not be marked up more than 1 percent.

Discrimination victims who financed auto loans from the bank from January 2010 to September 2015 must be identified and compensated for the interest rate discrepancy. Fifth Third operates 15 affiliates in Ohio, Michigan, Indiana, Illinois, Tennessee, Georgia, Kentucky, Florida, Missouri and North Carolina. That means minorities from these areas who received auto loans from the bank during this period should be on high alert.

“Even when African-American and Latino borrowers negotiate the interest rate, they end up paying more for their cars than white borrowers with similar credit profiles because of the car dealer interest rate markup,” said Chris Kukla, senior vice president of the Center for Responsible Lending. “Discrimination has no place in the auto lending market, and our research shows that dealer markups contribute to this discriminatory outcome. … The best way to root out discrimination in auto lending would be to eliminate dealer markups altogether.”

Fifth Third Bank is far from the only financial institution investigated for racial discrimination related to auto loans. Ally Bank, American Honda Financial and Evergreen Bank have also violated the Equal Credit Protection Act. Racial discrimination in this lending sector now amounts to roughly $194 million. And given that race-based income inequality remains a pressing problem both in and out of the U.S., it’s particularly appalling that financial institutions choose to profit off of Blacks and Latinos, groups still recovering from the 2007 economic recession.

Auto loans continue to make up a large portion of consumer debt, reportedly falling just behind mortgages and student loans as the top source of debt for the public. What’s more, auto dealers finance 80 percent of car purchases, which is why consumers in this case were so vulnerable.

In addition to the $18 million settlement, Fifth Third Bank must also pay $3 million related to unlawful practices in the promotion of add-on credit card services. This marks the eleventh time the CFPB has issued such fines. About 24,500 customers were affected by these promotions, which allegedly misinformed customers about the costs, benefits, terms and conditions of services, such as the ability to cancel credit card payments during times of financial hardship. Lastly, Fifth Third Bank will pay $1 million in fines for lending violations.

Carter M. Stewart, U.S. Attorney of the Southern District of Ohio, issued a statement on Fifth Third Bank’s discriminatory practices.

“Consumers deserve a level playing field when they enter the marketplace, especially when financing an automobile,” he said. “This settlement prevents discrimination in setting the price for auto loans.”

What people are saying

153 thoughts on “Fifth Third Bank to Pay $18 Million Settlement For Charging Black Customers More Interest for Auto Loans

  1. They need to also look into the mortgages as well!!!!

  2. Deandrea LF says:

    They don't need to look…it's been proven that Blacks at least HAVE been charged more even when they have good credit scores.

  3. I guess I will be cancelling my account now.

  4. You have to be kidding me banks are corrupt as it is especially laundering money now they do shit like this what assholes.
    I keep saying this the world can not keep going the way it's heading and the course can not be changed. Armageddon

  5. Damn…my car loan is through Fifth Third Bank!!!!!

  6. Thank gosh I am white! 🙂 BMW and mortgage interest rate are pretty low and very good deal for me. 😀 no wonder most black people are not being responsible for their bills and horrible credit scores/histories so get your shit together black people!!!

  7. Why is it only this bank is involved ????THEY ALL DO IT~~ AND HAVE BEEN DOING IT FOR DECADES !!!!! Especially U.S. bank,,they tried to charge me to cash a check,,written on them because I didn't have an account there !!!! I raised a little ( Ha) hell,,so the maneger came out a waived the fee !!!!! Damn Shame !!! But wait,,,my C/U ( Neighbors) wanted to put a 3-5 day hold on the check because it was on U.S. Bank !!!!!! THEY WILL TRY TO GET US COMING & GOING !!!

  8. I worked in the auto industry and know banks in the North East allowed car dealers to raise interest rates up to 4 points. It was not about race per say, just about profit across the board.

  9. Janet Beatrice I read the article and I don't give a damn if they are racism or not. Get lost you ugly woman! Again, black people needs to get their shit together and be more responsible. If you try to respond me I have a message for you—*put my hand to your face* talk to the hand you cunt!

  10. John Densler says:

    No where in this article is mentioned credit score. If you have a lower credit score, you need to pay a higher interest rate to make up for a higher default rate. If you do not recognize this this is another political war on business!!!!

  11. Where do I find out if I'm a victim of heightened interest rates in the state of Missouri.

  12. Didi Smith says:

    Nicci, don't bother..he's doing that whole blame the victim so I can act like racism doesn't exist thing some white males enjoy doing

  13. Didi Smith says:

    Nicci, don't bother..he's doing that whole blame the victim so I can act like racism doesn't exist thing some white males enjoy doing

  14. How much is your apr?

  15. Buna Diagne says:

    Thanks for this info. I had a car loan with from 2010 until 2015. Who do I contact to be part of the settlement?

  16. Shelia Smith says:

    please check BankBank Of Amerca!!!!

  17. Faye Turner says:

    Shame on you Fifth/Third. I shall repay saith the Lord…

  18. Donnell King says:

    There is no such thing as white privilege. not!

  19. Willie Polk says:

    You racist white people need to choke on a fat black dick. Die slow Bitch!!!!!

  20. Agreed with Tyson 100% and disagreed with Janet 100%!

  21. On our auto loan with them they add more too it so do we know if we be part of settlement

  22. Amber Boggs says:

    This is one of the reasons why I am not into black people especially in the relationship because I am not going to let them take advantage of us white people for our money, co-sign for the car or mortgage, you name it. Blacks have the highest criminials all over the world and most of them are broke. Of course if they have lower credit score then they are required to pay for higher interest rate if they want to get a car on their own.

  23. I had a car loan threw this company
    How do I find out if I get compensated?

  24. Aubrey Moms says:

    Tyson&Amber GOD is LOVE.When yall Die&get to Heaven for Judgement I Bet yall Shyyt Bricks when u find out GOD is BLACK.For ur Info Whites are bigger criminals then blacks.Blacks just get imprisoned more then whites.yall just plain old racist PECKERWOODS.

  25. Investigate credit card interest as well!

  26. John really!!! It stated "similar credit profiles"!!

  27. Doug Moore says:

    Yes, it did mention the that irregardless to the consumers credit score their were still charged a higher interest rate.

  28. Teufel Wulf says:

    Jairo Muñoz Die from painful cancer spammer.

  29. Teufel Wulf says:

    Is english not your native tongue John? If you cannot speak english, go back to what ever third world crap hole you came from.

  30. Dae Giovanni says:

    what in the absolute fuck are you blathering on about???

  31. Dae Giovanni says:

    "The discrepancy was not related to how credit worthy the Black and Latino customers were, and dealers were reportedly allowed to pocket the additional interest as compensation."

    your reading comprehension skills may need a massive amount of work.

    also, if you think they would arrive at an $18M settlement but NOT ONE LAWYER thought about the matter of credit scores and how they affect interest rates, you may need… a lot of 'other' work, as well.

  32. Angela Brown says:

    I agree Shaunte!

  33. And what about the dealerships? From what I gather in this article they are getting off scott free. They are just as much responsible for racial discrimination as Fifth Third bank.

  34. This practice is disgraceful and disgusting. Banks and Lending institutions (such as Payday Loans) continue to target minorities and exploit them. This is nothing new, this has been going on for DECADES, if not a century. These banks should be shut down not allowed to pay a miniscule fine and move on like business as usual.

  35. They need to go back further than 2010 !!!! Back to the beginning of the 90s TRUTH BE TOLD!!!!!

  36. And Overdraft charges!!

  37. Char Major says:

    Amber Boggs You're an absolute ignorant bitch and I am glad you are not into POC. We'll let some white bigot man get close to you then and take your good credit away. You will die not knowing there are great people among the human race because you are not spiritually capable of really knowing who may or may not be a good soul. BTW some of the most incredible people in my life are not white. What you completely missed is that POC with a good credit score are being ripped off due to the same ignorance you live by.

  38. Racism still alive in the heart of some of the institution of America. take advantage of the black and latinos. anywher yall see and witness racism in this country yall got to point out!! if you think its just black man one one latino guy victimise think again! know what you worth and go get it!

  39. If it wasn't about race, why weren't higher rates applied to everyone?

  40. Miz Moxie says:

    I'm closing my accounts tomorrow. They can sod right on off.

  41. So 5th 3rd bank treats black customers as if they were 3/5 of a person. Now where have I heard that before?

  42. A few people who stated if yr score is lower you nd to pay more,well they clearly stated credit worthiness wasn't the issue . 800,700 or 600 credit score blacks and Latinos were charged more with similar scores this has been going on for decades now.

  43. If your loan was opened in 2010 -2015 yep they got'cha !!!

  44. Fifth Third also discriminates in hiring in Chicago.


  46. Brian Odom says:

    If the rate is too high, you don't have to accept the terms. Also, I never finance with the dealer — I always bring my own. Also, being black, I don't get discriminated against in any way because I apply online. It's all based on my numbers and I don't need to set foot in front of someone to qualify.

  47. Nikki Noble says:

    Royce Mitchell Tell him!

  48. Brian Odom says:

    That's exactly my point. They're not talking about me, and we can make it where they are talking about any of us. If you get a bum deal, don't accept it. Shop around. I'm so tired of us playing the victim. "Oh lord, they offered me an ARM mortgage starting at 6% and it ballooned to 12% and I'm underwater on my mortgage." It's an offer. You're a fool for agreeing to it.

    Educate yourself. If Fifth Third gives you a bad deal, go elsewhere and shop around. When I was shopping for a mortgage, some lady offered me an unfavorable deal. I checked the average rates, knew my credit worthiness, and I told her no.

    It says in the article:
    “Even when African-American and Latino borrowers negotiate the interest rate, they end up paying more for their cars than white borrowers with similar credit profiles because of the car dealer interest rate markup,”

    Then you didn't do a good job at negotiating. Plain and simple. The finance manager's job is to get as much money from you as possible. Fight back.

    Try going to a black owned bank if you think that would help. I'm just saying in this day and age, you can do a lot of rate shopping without them even knowing your race if that's important to you. We can rise up and do better!

    I'm so sick of our folks falling for pre-pay cards, rent-a-centers, lotteries, pay day loans, and rapid refund tax scams. Yet, we keep signing up for that nonsense.

  49. David Jones says:

    Brian Odom There is a difference between playing the victim and being victimized. You speak as if the victimized ppl knew they were being hit with a fine for being ppl of color. Besides, we should have the same privilege as white ppl to apply for a loan without worrying about if anything is based on our color…but we dont…and you say we are playing the victim. ..come on dude!

  50. Im telling you they need to kook at these mortgages

  51. Jackie Mimi says:

    It appears you missed the part where they were "bumping" the rates to Blacks and Latinos. If it is a common practice, than do it and not exclude the other races from the bump.

  52. Brian Odom It seems that the one thing you're missing in this article is your assumption that they're bad deals. 2 parties walk into a dealership, they both have the same credit rating, and the person of color gets a car loan at a 3% rate, which is not be a bad deal. But the white person with the SAME credit rating got financing at 1%. How is that fair? I agree with your points about taking bad deals and not doing your homework, but to have corporations profit off of people of color, no matter how big or small the amount is, through a scam, how do you not see that as unjust?

  53. I'm always amazed at how they can always find a way to explain away racism.

  54. Erick Hopkins I don't think he's black at all!

  55. Your social security number often shows lenders you are black as your 4th and 5th numbers are often even if you are black. So please know the system is designed to know who you are even if you don't know.

  56. Joe Walker says:

    Actually the dealership making money by raising the percentage from the buy rate is common, and every dealer attempts to. So I am not really sure why the bank is taking the heat for this, as they would have had no idea what was going on. However, the dealerships that were doing this should be looked at, because if they were actually charging a higher interest rate based on the color of skin then that would be wrong, however, it could also be that they were charging a higher interest rate because the people sitting in front of them did not have an understanding of what was going on…

    So the question is, was the dealership discrimanating or were they taking advantage of people not knowing what was going on? (but really the question is how is the bank at fault because almost all banks will allow a 2.5 point bump to the buy rate so that dealers can make money as the fron end gross on an average vehicle is not nearly what people think it is)

  57. Aaron Reed says:

    Brian odom you're missing the point the the story. It wasn't the fact the black people were getting bad deals, it was the fact that they were getting charged more than the white people. You wanna act like you know it all and have a answer, but it just seems to me that you can't comprehend what you read

  58. Jackie Mimi Far too many Blacks and/or Latinos never intend to pay in the first place . This makes their particular ethnic group a higher risk . The vehicle either disappears , is trashed beyond repair , or winds up in a " chop shop " so the lender is just outta luck . It is a perception created by the worthless among you that exacts a price on the good people .

  59. Eddie Green says:

    Wow. People will bend over backwards to disprove this.

  60. Mary Lofton says:

    I find alot of time we don't pay attention to the terms or contract, all that matters is we are approved for the loan to get the item we need. You have to research, make sure your questions are being answered, and ask plenty of questions. I mean I know that the company is at fault for discriminating, but that is what people who practice discrimation -they attack the vulerable or those who didn't know subject matter. Guard yourself by being educated and a well informed consumer, do your homework- research the company through the Better Business Bureau. You have to protect yourself because nobody will do it for you..

  61. Wendy Ables says:

    Willard Wright you are not speaking perception you made a statement as if though it were fact. Are you really saying that blacks and Latinos are dishonest and have no intention to pay? How many Caucasians are doing time for dishonest white collar crimes or does that not count? Your way of thinking is the very reason this problem exist.

  62. Brian Odom : Facts are facts. This is not claming victimization, mon frere. The practice of raising the interest rates for Blacks and Latins is systemic within the banking and financial industry and has been for decades. The hurdles historically have always been higher for us fiscally. Blacks and Latins shouldn't have to shop around 10x times harder for a loan if you meet the same requirements as a White customer. I'm old enough to recall when opening a savings or checking acount was harder than getting on Public Assistance. They asked for everything short of your blood type. Do you recall redlining? Why do you think that redistricting and gerrymandering have become so popular again?

  63. Good for you,but this article concerns those who aren't fortunate as you,The average American , all races go thru dealership and the lending institutions available thru the dealerships,Either because they really need a car thru necessity, so not even aware of this type of practice because they so happy to get a car

  64. Brian Odom says:

    Elle Bee Wear Wow, you hit me with the R word and I guess that's the trump card. I cower in fear. You win. But then again, blacks can't racist, right?

    I have nothing but love for my people and I'm tired of the constant victimization. We need to be better educated and not take bad deals. Like I said you can avoid all of this by going online. But that makes me a hater and a racist.

    No use continuing here. We are all victims and there's nothing we'z can do about it. It's all racism. That's the narrative and there's nothing I can do to change it. Got it.

  65. Brian Odom says:

    THANK YOU! So much truth here, but they don't want to hear it.

  66. Joe Walker says:

    Jackie Mimi That would be between the customer and the dealership though, not the bank…. which is what I was getting at

  67. Brian Odom says:

    Erick Hopkins Then negotiate the rate and get 1%. You don't just "get" a 3% rate. That's simply an offer. You can take it, leave it, or negotiate.

    There's always been profit and discrepancies based on color. For example, you might want a job that you think is worth $15/hr, the employer doesn't like it, and he hires a Mexican to do it for less at $9/hr. We already know he's making less based on his race — it's not hard to figure that out — however he's willing to do that job for less and there are no lawsuits about it.

    Is this discrimination? The employer simply made an offer and the Mexican guy took the low ball offer. He's probably happy with that offer, despite it being a bad deal. Should he sue? I see nothing but Mexicans picking fruit, working landscaping jobs, and doing home construction.

    A lot of these people who get bad rates are the people who succumb to all the "no credit, slow credit, no problem" kind of commercials that bring suckers in to the used car lots. You should shop around. ALWAYS. Whether you think the deal is fair or not.

  68. Brian Odom says:

    Cynthia Cole-Burrell Since I don't subscribe to the victim mentality, somehow my black card has been revoked. Great logic.

  69. Rosie Gentry says:

    Reality check "I don't get discriminated against in ANYWAY".

  70. I have lived and worked in the real world since the 1960's . I am here to tell you that the enough "bad actors " among the Blacks and Latinos that makes that segment of the population a " high risk " for loans . This , of course , damages the majority that are honest and hard working . ( of course there are those among the Whites that are worthless trash , but La Raza and the NAACP doesn't raise a stink when they are " punished " ) I know of entire neighborhoods that are red-lined for service repairmen because you stand a 90 % or better chance of not getting paid . So , what's the answer ? I don't know . Maybe the good people in some of these communities can help change perception ? BTW a lot of the servicemen refusing these neighborhoods are Black or Latino !

  71. Delta Morgan says:

    Willard Wright – NO! Deals should be made based off the FICO score, not the perception of people based off race! CREDIT WORTHINESS

  72. Joe Walker says:

    Delta Morgan Agreed… and then attempt to negotiate and sell what they will buy

  73. Joe Walker says:

    Wendy Ables In my area we see far more poor whites that have their vehicles repoed…

  74. Wendy Ables says:

    Brian Odom yes you are correct for some situations. People of all colors play the victim it's a fact. So now that we've established that why is it hard to acknowledge that people can also be victimized? It is apparent that some laws were broken ergo the settlement. Is it too far fetched to think that people had no idea that they weren't getting the same deal as equal credit counterparts? How did this turn into a "stop being a victim" discussion? #wemustalldobetter

  75. Jeff Catlett says:

    Brian Odom You do realize, you make too much sense? Thank you for being a wise, educated consumer.

  76. i mean I know you want tell yourself that people marginalized did it to themselves by not reading clauses – yet here it is First Third Bank being sued and paying a settlement because someone obviously noticed whatever you think they should have paid attention too …. although you give this great advise with reading terms and agreements can you help me to understand how anyone would know they were charged more interest and received a higher mark up than white people…was that info in the terms and agreement?

  77. Evelyn Terry says:

    This is a serious issue. Understanding the debt trap is very difficult for those of us who can only see what we want and are willing to sign the dotted line when the predatory lender presents the paper that we don't have a clue of what it means. Even with passage of Dodd Frank law, uninformed consumers get taken to the cleaners. That's how the rich get richer and the poor, poorer.

  78. This is why EDUCATION IS KEY!!!! LEAVE THE GAMES BEHIND and handle your business!!!!!!

  79. You say this failing to realize that even if you are shopping around, let's just say between 4 institutions, if all of them are increasing rates based on color you are still at a disadvantage. You think people walk in these places knowing that they are being targeted for higher rates, of course not. This coming from a mortgage loan officer btw. You can ask as many questions as you want but if all institutions are skewing the numbers bc of your color you are screwed.

  80. That's what you think. I am a mortgage loan officer at a bank. You'd be amazed at what has to go on LAR statements. When they see you in person it's based on visual observation whether you answer HMDA questions or not. Eventually someone will see you face to face for the deal.

  81. Aaah good Ole Frank Dodd.

  82. How would I be able to find more info about being involved in this suit? As a minority from GA who has an auto loan with Fifth-Third, I'd be curious to see if this happened to me.

  83. Unless you know what others are getting at the same bank, you wouldn't know that you are getting a bad deal. Reading the contract will tell you what the terms are, but I highly doubt it will state that an additional 2% is being added because of your race.

  84. Brian Odom : Then why offer two separate rates? Why arent they ALL 3% THEN negotiated down? Do you think that the White buyer had to negotiate their rate?

  85. Jeff Catlett: I'll ask you the same question: Then why offer two separate rates? Why arent they ALL 3% REGARDLESS OF RACE, then negotiated down? This is Predatory Banking at it's best. Do you seriously believe that you are going to know or be informed of the rate at which White consumers are charged? The rate changes with your race happens as soon as you walk in the door. The Auto Industry is in on it also.

  86. David Jones says:

    Brian Odom most of the time racism/discrimination that hits the hardest is hidden, you are victimized before you know it. In the scenario Erick Hopkins mentioned, if you dont know about the secret priviledged discount rate of 1%, how do you know to negotiate or shop around when youre already thinking youre getting the best rate at 3%? Regarding the article, i'm assuming someone looked at the numbers and saw there was a trend or discrepance in the numbers between caucasians and minorities…for something like this, you have to wait until after there are enough numbers to show a trend because it is not going to be in the forefront or in your face. And its definitely not going to be written in any document where an educated consumer such as yourself can find it.

  87. Say it with me …SYSTEMATIC RACISM. White people just because you don't experience it doesn't mean it's not happening. Racism is when your livelihood is compromised by a system due to your RACE. Being called "mayo" or "white girl" by blacks isn't racism. It may offended you. But it does not compromise your ability to live equally here in America. These types of stories need to be told more!! Black students who recognize these injustices are being told to "shut up" and stop "whining". This is an example of the inequality America was founded on. This is important. This is RACISM. And this needs to end.

  88. Willard Wright that's what credit is used for genius. In know way people should be judge by "perception." If that was the case I guess women should be charge more because we have the sterotype of being bad drivers??? No this is racism. Idgaf how many "worthless" black people you've met in your life of what perception you have of us. If I have good credit and the retirements need I Should not be getting charged more based off of the perception you have of people that look like me. That is call racism!! It baffles me how you people absolutely refuse to see it.

  89. Mark Zyche says:

    Willard Wright NICE POST!!! SO YOURE SAYING BLACKS KILL BLACKS so its ok for white america to single out blacks to kill them? SAME THING RIGHT!?!?! DUDE!! what the freak does your post have to do with this issue? THIS SHOWS HOW WHITE PEOPLE WILL TALK LIKE RACIST BIGOT APOLIGISTS I dont care if the story is OBVIOUS CORRUPTION that ANYONE should not want to see!!! DUDE!! this is why your people are the worst behaving people on the planet, because you will Justify your acts at HUGE POWERFUL LEVEL!!! making YOUR hate, worst than ALL OTHERS on the earth.

  90. They ALWAYS miss the point! Unless it's happened to you, you are CLUELESS and your advice means nothing. People with all that good advice are probably the perpetrators or know who they are.

  91. This isn't even the worst of it… The housing and mortgage inequality….

  92. There is no real way to know f you are being redlined however Mary is right in that we need to educate ourselves as much as we can. Working in the banking industry I have warned my family against certain practices. I've educated them on variable vs none variable loans. You can't protect yourself from everything but do your due diligence as much as you can.

  93. Mary Lofton says:

    What you are both failing to realize is that because I am not going to go along with the rest of everybody saying "yes, we were victimized because of our race" If there is a way to prevent myself from falling prey then if that means taking extra time to research or call around to ensure that I am getting a better or fair deal then I will. I am not saying that there isn't any type of descrimination around would be crazy, but guess what its not like that all the time. Now I could be like most and say "oh those poor people, I mean its hard being a black person, its not fair, and I can't make it because of my color" OR I could say you know what because of my color I need to be one step ahead, I need to throughly educate myself, I need to pay attention to what I am signing. I don't know what you want me to say!! Because I don't live my life staying in the pity party- I try to give tips for those who may want to know how to defend themselves if they can to prevent what they can. Here is another thing its not always about descrimination, another thing that plays a part in what rate you receive is your credit score and collatoral. Do you have savings, why would a company invest in you when your debt ratio exceeds your income ratio. You have credit cards that are at its max point, all of this plays a part. Before you sign anything you can ask what your credit score is and your report, so you can figure out what companies offer for your score. Take the time to look at your credit report because to some companies anyting below a 620 is considered poor to fair which will offer a higher rate. You are allowed to ask questions why is my rate so high, is that the average rate for somebody with my score, how much interest will I be paying, do you have stats on how many loans you offer at this rate, is it okay that I take a couple of days to think this over before I sign? Please don't get me wrong either I do feel for those people who have delt with this company, but you better try to defend yourself if you can…

  94. Pronto prestamos & third party banks should go under investigation as well.

  95. Frank Fisher says:

    Jada Moultrie, drop the mic and walk away. It amazes me that people can blatantly see the discrimination, yet make fkn excuses for it.

  96. Frank Fisher says:

    Mary Lofton, it's not just with auto loans. They do this with home loans as well. As Jada pointed out, how are we supposed to know if the rates we're being given are comparable to whites? There's no way of knowing that.

  97. Mary Lofton says:

    Frank Fisher and I picked the mic up again because okay its descrimanation..all I can do is say how you can try to protect yourself at best..not saying that you can all the time but if educating yourself can at all reduce the margin by just a little bit then we are all the wiser. Sorry not making excuses, but I am not the type of person that spends my days nursing your wounds..I am the type to say "yep something bad happen to you I am sorry, what can we do to protect ourselves from it again. And don't act like you don't know what I am talking about how, "we" can run or dive headfirst into a contract because we can get the money for what we need right now. Sorry!! And if you have a great score of 700 or more then your rate should be at least in the 3% range, but if they are saying I am offering your a rate of 8% ding ding a bell should go off. You can call banks to see what rate they will offer with your credit score. There is also a comsumer website that gives you a list of your rights as a consumer. There is also the Better Business Beureau that when you are ready to take out a loan you can RESEARCH to see if they are a replicable institution or if they have any complaints on them. Does this help in all cases, no it does not, but if doing your research can at least help you detect a red flag then okay!!! Put if you want me to spend my whole time talking about how unfair it is with out trying to find a resoultion to the problem then sorry that is not me. Complaining about a problem with out examing ways to help divert it is a waste of time and counter productive. Now I will put the mic back down.

  98. Christee Carter my sentiments exactly , you hit the nail right on the head !!!!!

  99. Brian Odom you also have some valid points we do need to educate ourselves and do some research when making a big ticket item purchase , and just spending , saving and credit worthiness period. Those things you mentioned payday loans , rapid refund tax scams , etc. , were designed to cheat not only African Americans , (mostly we're the primary target) but just low income people period. In the past I also fell victim to all of those things , but I decided that I was not going to continue robbing myself , because as long as I didn't try to manage my money , learn how to save and stick to it , and raise my credit score than I would be stuck getting a high interest especially if I didn't research the going rate s for whatever I was purchasing. I'm not saying that you can't get cheated , because just like one person said you won't know what is being offered to a white person but you can still guard yourself somewhat if you do some research.

  100. James Howard says:

    Willard Wright what is the real reason you feel you can call a person worthless and among you…explain who the good people are supposed to be….What are you a white man making these remarks

  101. Cynthia Cole-Burrell, but Cynthia, there is no more racism, remember? They even said so on Fox "news"! (sarcasm alert!)

  102. Willard Wright, wrong. I come from white trash, but I work with all races, mostly civilian, in the military. I've seen much more of what you are saying amongst the whites than any of the blacks, hispanics or asians. In fact, the whites are the only group that I've witnessed do any of these things. The other groups are usually meticulous about making payments, building credit, buying houses so they don't have to rent, etc… The whites just want to show off their new 4 wheel drives (along with their fancy new Walmart guns) for awhile and then they hide it in the woods. They don't usually care about their credit or they lie and say it was stolen (I can't back up that last statement, so no one can hold me liable for covering up a crime. I know they do it, but I don't want to know where).

  103. I find it hard to fault a bank for what a auto dealership does to it's customers…..

  104. Mary Lofton Well thanks for telling US who are being cheated to be smarter, while ignoring the fact that the cheating is illegal and admonishing the cheaters. We so appreciate your type.

  105. Mary Lofton says:

    Sharman Phillips Willis it is who is, not who are..and you are welcome

  106. Mary Lofton says:

    Lauren Dunham Oh my gosh, you passed the spelling bee you can pick up your cookie tomorrow..Look this whole conversation is so old to me and we just need to agree to disagree. This my view point though it may not be what you want it to be, but it is my opinion. As said I was not in anway trying to downplay the seriousness of what happen. However, I believe education is a starting point to combat dishonest practices. But all of you are on here repeating what the other just said, no one person has tried to give tips on how to protect yourself from discrimination or what are possible signs that you could be discriminated against. So this is my last and final reply to my comment, if you are interested in trying to protect yourself to the best of your ability then you can call for rates, research the company through the Better Business Burea, and check with consumer rights, what is your credit score, read before you sign, google search to see if the company has red flags. If you are interested in still just crying about what has happen without trying to help find a resolution or ways to combat this then please continue, I am out. I am not saying it will be 100% but it is easier to take advantage of a person that doesn't know compared to somebody who is informed. Have a good night!!

  107. Pot meet kettle. For the record, it's discrimination lol.

  108. Remember when the Supreme Court justices said racism was over in America?

  109. The U.S. Supreme Court ruled 5-4 in June that a key provision of the 1965 Voting Rights Act designed to prevent racial discrimination in certain voting laws was no longer necessary. The majority opinion, authored by Chief Justice John Roberts and joined by Justices Antonin Scalia, Anthony Kennedy, Clarence Thomas and Samuel Alito, stated that “things have changed dramatically” in the South and that the "country has changed" since the Voting Rights Act was passed. The court argued the law had successfully defended against discrimination, but was no longer needed. Racism, the court majority appeared to suggest, was over, and laws created during a time when such hatred was in its heyday served now to place unjust "burdens" on certain states and jurisdictions that wished to pass new voting laws — laws, of course, that had nothing to do with trying to suppress minority votes.

  110. Rian Macklin says:

    Willard Wright Funny, I've always paid, I've never broken the car or had it in a "chop shop", seriously man you're so overtly racist it isn't funny. "far too many" is NOT all. What if I said every caucasian was a kkk member because "Far too many" wear hoods and have infiltated the police forces of far too many cities?

  111. Their name is 53 bank. Why trust a bank with your money when they cannot even simplify a fraction?

  112. OMG! I just purchased a car using them for finance. The interest rate wasn't has competitive and only due to personal circumstances I went ahead with my purchase.

  113. John Betsey says:

    They Gay.. Whos loved up with a black man has something to say? LOL this was very funny! Id take bieng black over Gay any day in America.

  114. John Betsey says:

    Amber Boggs Money Amber? You dont look like your rolling in the doe.You look like a stipper! Your money is dirty lol ANd looks like you have Tyson in your pics, Whites are more likely to go into debt trying to pretend to have money, Blacks rarley allowed decent credit which in turn keeps them out of debt. Buy you big house and nice car but get stuck killing your familes because you cant keep up with the notes.. You think your comment was funny? Well mine is funny and true! You whit peiple are drowned in debt! Enjoy that! 🙂

  115. John Betsey says:

    BTW I have about a qaurter million dollars in the Bank! :0

  116. They were created by the merging of Fifth National Bank and Third National Bank, not because they're bad at math.

    But if you need another reason to dislike them, they were the first bank to impose a transaction fee at their ATMs. And they made it very popular and lucrative for all the banks to follow suit.

  117. I would. Unless you have more than $50,000 on deposit with them they treat you like shit.

  118. You heard that from someone who misunderstood history. That's a common misconception.

    It had nothing to do with devaluing people, it was meant to stop slave owners from trying to influence taxes and governance by claiming their slaves towards representation in government. They were basically telling slave owners they can't treat people as chattel when it was tax time so you can pay less taxes, and then turn around and treat them as whole people when it came to representation in government so you can have more influence. (Basically having your cake and eating it too)

  119. Dude drives a BMW, that explains a lot. Only an asshole drives a BMW. And if you're not, they'll train you to be an asshole before they'll give you the keys.

  120. Peter Tucker says:

    Lol best comment ever

  121. Jonathan Sherry Man you are on a roll with these comment replies!

  122. What is funny, is that Amber and Nicole do not get or understand sarcasm, and allowed themselves to show their ugly side over silly comments. You know, these days, that is how people loose jobs and livlihoods.

  123. Conan Moats says:

    5/3 compromise .

  124. "no no no, those nig-, i mean black peoples just have bad credit..thats why they were charged more. If they were more responsible like me, they wouldnt have to deal with this"

    Yea, that is some great logic'ing there mate.

  125. Amber Boggs you dumb bitch, did you even read the article? Quit being a racist twat and educate yourself you idiot

  126. Jonathan Sherry

    You'd do well to understand context, then you wouldn't feel the need to rationalize or try to correct something that doesn't need to be corrected. By all means, please point out which of what I wrote is "common misconception" or a "misunderstanding of history:" The 3/5 compromise really did happen. Their faulty reasoning for enacting something so heinous doesn't discount what I said. How does their attempt to dilute representation work as an excuse? This was the most enlightened step they could've taken? If I didn't know better, I'd think you were saying the 3/5 compromise was somehow benign.The mere invocation of it as a fact seems to have offended what I can only imagine is some kind of conservative sensibilty. With all due respect, it sounds like you don't believe that minorities are ever victimized,and you don't like it when facts that have been culled from an investigation prove you wrong. Of course, it could simply be my "clever" observation about the irony of the bank name. Oh, and "Devaluing people"? That was instantly achieved when those people first became property, and then again when they were "freed" and then promptly treated as second class "3/5 of a person" citizens.

  127. Jonathan Sherry

    Of course the humor is lost on you; you're just interested in getting in a few punches.

  128. WarrYah Warr says:

    Mike Griffith Yikes…..Drop the mic.

  129. The OLD saying stand's True….lol ""There's a Sucker born every minute""

  130. You F 0 o L Someone would have to have a LOW IQ & Zero Critical Thought too agree to the Term's of the ""AGREEMENT""..Most contract's have a 24hr No Obligation back-out they are Fool's…

  131. Jason Gold says:

    For you idiots that don't comprehend English, "“Even when African-American and Latino borrowers negotiate the interest rate, they end up paying more for their cars than white borrowers with similar credit profiles because of the car dealer interest rate markup." Straight from the article. Therefore, it didn't matter what the credit score was, it was done because of the color of their skin.

  132. Charles Hull says:

    and the bank is still open..? nobody got fired ?…..if not that then all else is of little consequence and a waste of time…..'institutionalized' an interesting word that decribes the biased. behavior of many businesses dealings with minorities, regardless of that smile pat on the back, and handshake extended to you….like Willard Wright I too have lived and worked in the real world since the 60's and before….In Chicago, for example, 'zip codes' were used to determine your level of worth and risk…….Minorities already had a couple strikes againist them before they walked out their front door……Know it alls feel free to look it up…… I look forward to having that conversation with you….or you pick the subject you want

  133. Charles Hull says:

    Willard Wright check my comment….I think we are on the same page , different approach

  134. Omar Ford says:

    In BIZZAROW World, the bank is called "3/5ths" and blacks are treated as WHOLE persons and given reparations as part of the interests on their loans…

  135. Good for they ass, i hope im in on the class action suit hahaha

  136. Don Prater says:

    I thought using methods to rob people of money theogh schemes is called grand larceny. This is a felony punishable by prison. Why is it that banks can knowing rob people theogh schemes and simply pay a fine? How is it this is the case in every state in the union? Is there a law or agreement the public does not know about? If so, where's the banks incentive to discontinue robbing the American people?

  137. Lavida Allen says:

    Amber Boggs you sound stupid……..

  138. The bank is definitely wrong but what about the dealership's who targeted these people, shouldn't they be held accountable too for their discriminatory acts? I wish I knew which dealership's because I would make sure never to do business with them.

  139. Al Bond says:

    Reading comprehension doesn't suit you well, huh?

  140. Teufel Wulf says:

    NO commment John? What are you chicken?

  141. Linda Cooper says:

    Donald Taylor Yeap that would be me! Purchased 2015 Mercedez.

  142. 5/3 would be it's simplified form.

  143. Daniel Sun Kim No, that is the simplified impropor fractions. Simplified would be 1 2/3

  144. Amber Boggs let's not forget why white people have money…it was given to them in many forms by the governvernment and denied to deserving blacks. Government housing loans to create the middle class was given only to whites…you see the deparity their. Keeping blacks from amassing any wealth. So this bank ain't the first institution to discriminate.
    Then after fighting in the wars just like the whites did…blacks were denied veterans benefits to go to school, to get a home loan. As if they weren't in the same wars.
    so, when you talk about what white people have…they received welfare from our government for a long time before anything was given to blacks. and obvisiously, they are still scewing blacks. no ones is going to jail, just a slap on the wrist.
    Why white people can't understand this systemic racism is beyond me. But, you didn't get anything fair and square, you stole it or it was welfare to you, they just used another name to call it. And when I say stole it, I mean your white anscestors literally staked claims for Indian land, killed blacks who wouldn't give them their land. And it's all being handed down to you and future generations. All that land your grandpa stole. That's why your people have more. Wake up! You are not all that!
    So don't be so hard on blacks cause it is still happening to us daily!

  145. Bank black…it's time

  146. …and how exactly do they train their employees to rob black and brown people…

  147. same with housing loans…

  148. Mary Anigbo says:

    Jonathan Sherry Certainly the 3/5 act reflected the worse kind of devaluation of Black people – less than a human being is as bad as it gets!! Then the southern racists used the rule to try to not only make money but influence government. It's no different from present use of mass incarceration to enrich the corporate world that is using virtual slave labor under the guise of a constitutional ammendment that permits such treatment of persons committing a felony.

  149. Rick Todman says:

    I wonder if 5/3 bank thinks I'm 3/5ths of a human being as well……

  150. Jonathan Sherry in the process it still devalued people! You cant explain that away regardless of what they meant to do!

  151. Amber Boggs OMG what an idiot.

  152. Mark Cole says:

    Nicole Thomas keep working at it and try a acting like you have a brain too

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