Obama bullied bank to pay racial settlement without proof: report

Newly uncovered internal memos reveal the Obama administration knowingly exaggerated charges of racial discrimination in probes of Ally Bank and other defendants in the $900 billion car-lending business as part of a “racial justice” campaign that’s looking more like a massive government extortion and shakedown operation.

So far, Obama’s Consumer Financial Protection Bureau has reached more than $220 million in settlements with several auto lenders since the agency launched its anti-discrimination crusade against the industry in 2013. Several other banks are under active investigation.

  • simus1

    Ally was GMAC with a very thin coat of new paint slapped on prior to being spun off from the financial wreckage of government controlled bankrupt GM. So it was like a fish being released to a new owner – said owner discovering after the fact that there was still a hook and line in place that only the seller (still holding the other end) could remove.

    • Norman_In_New_York

      At the time of the crash, GMAC was run by one of Bernie Madoff’s best buddies.

  • mauser 98

    Jesse Jackson doing same for decades : Budweiser, Bell Atlantic, Toyota etc

    “Shakedown King Jesse Jackson”http://www.theamericanconservative.com/dreher/shakedown-king-jesse-jackson-quacks-up/

  • Kathy Nelson

    Obama the gangsta.

    • Specialty – “extortion and shakedown.”

      • dance…dancetotheradio

        I just wonder why they don’t put up more of a fight.

  • mauser 98
  • Spatchcocked

    Same old same old community organising ….

  • BillyHW

    The roots of the next financial crisis are being planted.