Birdwatch Note Rating
2024-12-30 05:02:08 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 7445F2A6189E4710EEF4863272FE53D1AE24B28B9F4B2ECB01789F857E5D2EFB
Participant Details
Original Note:
The Equal Credit Opportunity Act bans lending discrimination on the basis of religion https://www.justice.gov/crt/equal-credit-opportunity-act-3 Banks can lend money to the Federal Reserve for about 4% per year. It does not make sense for them to lend money to individuals and earn 0% when they can earn 4% risk free. https://www.newyorkfed.org/markets/reference-rates/effr
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