CNN Appears to Accuse Navy FCU of Discrimination

( – CNN is coming under fire for grossly misrepresenting data to paint the Navy Federal Credit Union as a racist institution that unfairly denied credit to black people. The claim from the headline of the CNN piece in question claims Navy FCU rejected over half its black applicants.

It reads early in the article that the bank approved 75% of its white borrowers, but less than 50% of its black ones. While the CNN piece looked at relative incomes between the two groups and size of the loans, what they didn’t have access to was individual credit scores and debt load, which are two major factors a bank considers when determining whether or not to issue a loan.

CNN writers went on for ten paragraphs claiming racism before they even printed the bank’s defense from spokesman Bill Pearson. He said the report was inaccurate and left out major criteria, like credit score, cash-on-hand, and loan history with the bank.

CNN then deceptively claimed that the additional data wasn’t made available by Navy FCU without informing their audience that such information is legally protected and privileged and cannot be divulged by a lender.

The Fair Credit Reporting Act protects the release of private borrower information from banking institutions. It’s why you have to sign off on an institution checking your credit report.

It’s likely CNN writers knew their entire article was based on unfounded accusations and rushed to print regardless. The lie travels around the world before the truth can strap on its boots, the old saying goes.

They even admit in the last few paragraphs that the analysis doesn’t prove discrimination. If that’s the case why’d they write it?

CNN writers are either incredibly incompetent, along with their editors, or there is an intentionally deceptive and manipulative angle to this story.

There’s no doubt that racism exists and is still a problem, but when writers conjure racism where none exists simply to fabricate a story for clicks, they make the world a worse place for everyone. Thankfully not everyone believed the deception.

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