The author flippantly violates this by claiming the credit system to be racist, but the Equal Credit Opportunity Act has been in force since 1974.
We know the factors that affect credit, some of them are income, payment history, loan balances, number of credit checks, etc.
Surely you're not arguing that the law instantly solved everything?
Countrywide - once the lender for 20% of mortgages - was dinged for violating the ECOA in 2011, so violations were clearly still occurring then, and are likely continuing today.
Add in the fact that redlining has multi-generational impact, too. Housing is one of the big ways families pass wealth down to their kids and you get potential racist impact due to past actions even if the current implementation is race-blind.
https://www.reddit.com/r/EndFPTP/comments/8wz6g3/impartial_a...
This is, by the numbers, the much bigger issue by an order of magnitude. I think one problem that many people have with the 'racist creditors' trope is that racist policies have left a gaping hole in african american wealth, and consequently african americans are disproportionately priced out out of their local housing markets. If you were to make the credit process completely (and I mean completely) race-blind, you would still have massively unequal outcomes, probably more or less on par with what we see today.
Countrywide was one of the biggest lenders responsible for the 2008 financial crisis. Their problem, just a few years earlier, was giving way too many people mortgages. I saw it myself as a real estate agent, people were approved for loans up to even as high as 50% of their monthly income. It was ridiculous.
You can argue all you want about the ripple effects of the past. They're all over the place. The thing is, you can't change the past.