Daniel Rosen explains credit discrimination: when lenders use protected traits like race, religion, or sexual orientation to influence lending decisions. The FDIC identifies three types: overt discrimination, unequal treatment, and unequal impact. Women, seniors, people of color, and LGBTIQ consumers face particular risk.
Hey, everybody, we are going live right now, so join me on this live. Did you have a great long weekend? It was a busy weekend. We had Father's Day. We had Juneteenth. I had a little barbecue at home. It was awesome. Anyways, thank you for hopping on this live with me. I'm joining you from our credit repair cloud offices here in sunny Venice Beach, California. And if you are here with me right now live, drop me a hashtag live down in the comments. Come on. And if you're watching the replay, drop me a hashtag replay because I want to come back and see who was here later on, okay? So drop that down in the comments. And today I want to ask you some questions, both as a consumer and as a business owner. Do you know what credit discrimination is? Do you know how to protect yourself against credit discrimination? And do you know how to protect your customers from credit discrimination? Now, credit discrimination, it happens when a lender allows protected traits such as race, color, religion, national origin, sexual orientation, marital status, age, or reliance on public assistance programs to influence its decision whether they're going to offer you credit or a loan. And when discrimination enters the credit equation, the consequences, they can be massive. And the damage can not only harm a person, but it can very often take families, generations to recover from it. Now, there are three types of discriminatory practices that are outlined under the fdic. They are overt discrimination, unequal treatment, and unequal impact. And a large portion of your client base are likely made up of the groups that are historically vulnerable to credit discrimination. I'm talking about women, senior citizens, people of color and people with disabilities, and veterans and active duty service members who are not specifically protected by the Equal Credit Opportunity act, and consumers who identify as LGBTIQ who didn't receive specific protection until March of last year. And that's why in this week's episode, I am going to explain how to recognize the three types of credit discrimination. I'm going to explain the rights you have to protect yourself and the warning signs that you or your clients can know they were discriminated against. And I'm going to explain specific actions that you can take if you believe that you have been the victim of credit discrimination. So tune into the full episode to learn how to protect yourself and how to protect your customers. Okay, now, if you're watching this in our Facebook community, here's what's going to happen. My team are going to drop the link down in the comments so you can listen or watch right away. And if you're watching on YouTube the link is going to be right over there in the show description. And if you're watching this on Instagram, go to my link to check out. Actually, sorry, I didn't explain that very well. If you're watching this on Instagram, you want to check out the link in our bio to listen. Okay. Wow. It's getting really complicated to do social media. Every different platform has a different thing. Anyways, and if you're not already, be sure to subscribe when you get there and turn on notifications so you don't miss any of the secrets that I share each week on the Credit Repair Business Secrets podcast. Okay. And if you hold my arms tired, if you want me to mentor you as I hold you by the hand and help you to launch your very own profitable credit repair business, then go to creditherochallenge.com and sign up today in the challenge. You'll have live training, you'll have mentorship, you'll have a lot of fun, and you'll get certified in disputing. So what are you waiting for? If you haven't done the challenge yet, you gotta check it out. That link is creditherochallenge.com Anyways, great to be here with you and I will see you again next Tuesday right here for another podcast. Tuesday. But in the meantime, check out that podcast. Okay. See you.
