Regarding Charlotte, NC MSA inside 2002, getting traditional family pick fund, Wachovia declined the newest apps from Latinos 4.five times more frequently than whites, and you can refuted new software out of African People in america dos.twenty-five moments more often than whites. This type of highest denial price disparities are not informed me from the one better-than-normal outreach in order to African People in the us or Latinos. Into the 2002 inside MSA, Wachovia generated 1292 antique family get funds in order to whites, simply 120 to African People in the us, and just 34 to help you Latinos. On listing, the aggregate business within this MSA in 2002 made 2615 such as for instance money to African People in the us, 697 in order to Latinos, and you may 20,604 to whites. Of these three organizations, brand new aggregate made ten.9% of their loans so you can African Americans, and 2.9% so you can Latinos. To possess Wachovia, the fresh rates have been lower across-the-board. [At the same time, SouthTrust Bank for like money contained in this MSA refuted 29 off the newest thirty five apps they acquired away from African Americans.]
Throughout the Jacksonville, Florida MSA (where which suggested merger is presumptively anticompetitive) from inside the 2002, to have traditional household purchase financing, Wachovia refuted the fresh apps regarding African Us citizens 2.six moments more often than whites. So it large denial rate disparity is not said of the people greater-than-normal outreach in order to African People in america, otherwise Latinos. Within the 2002 in this MSA, Wachovia generated 567 conventional house buy finance in order to whites, merely 24 to help you African Us citizens, and only 14 to help you Latinos. For those about three teams, the brand new aggregate generated 8.9% of their money to African Us citizens, and you can step 3.1% so you can Latinos. For Wachovia, new figures had been dramatically reduced: simply 4.0% out of funds in order to African Us americans, and you will dos.3% to Latinos. [At the same time, SouthTrust Bank inside MSA produced 39 instance funds in order to whites, and you will none so you can African People in the us otherwise Latinos.]
Regarding the Columbus, Georgia MSA within the 2002, to own conventional family pick money, Wachovia denied new software of African Us citizens 2.96 minutes more often than whites (when you are doubting one hundred% from applications out of Latinos). These disparities aren’t explained by people higher-than-regular outreach to help you African Us americans otherwise Latinos. When you look at the 2002 within MSA, Wachovia made forty two traditional home pick financing so you can whites, simply five to help you African People in the us, installment loans in Virginia and you may none so you’re able to Latinos. On listing, this new aggregate community in this MSA from inside the 2002 made 273 particularly finance to help you African People in america, thirty two to Latinos, and you will 1529 so you can whites. Of these three organizations, the latest aggregate made fourteen.9% of their money in order to African Us americans, and you may step 1.7% in order to Latinos. Getting Wachovia, the figures have been lower: just nine.3% out of funds to help you African Us citizens, and you can no percent so you can Latinos. [Meanwhile, SouthTrust Bank having such money within MSA refused 10 away from the brand new eleven apps it acquired out of African Us citizens.]
Towards checklist, the fresh new aggregate community within this MSA for the 2002 generated 11,902 including loans so you can African People in the us, 6894 to Latinos, and 64,826 to help you whites
Throughout the Raleigh-Durham NC MSA in the 2002, to possess antique home buy financing, Wachovia refused the brand new applications out of Latinos an impressive 5.49 times more frequently than whites. Meanwhile, after the methods established more than, a reduced percentage of Wachovia’s finance would be to Latinos than simply is actually true on aggregate. [At the same time, SouthTrust Lender having like financing inside MSA rejected eleven out-of the newest fifteen applications it obtained from African Americans.]
For the record, the fresh new aggregate globe within MSA for the 2002 generated 1388 such financing so you’re able to African Us americans, 488 so you can Latinos, and 13,794 so you’re able to whites
From the Norfolk, Virginia MSA in the 2002, to own conventional house get money, Wachovia rejected this new apps regarding African Us citizens step 3.72 moments more often than whites.
When you look at the places in which Wachovia has made early in the day purchases otherwise expansions-by-branching, Wachovia’s record is also worse. Instance on Washington DC MSA for the 2002, having old-fashioned household purchase financing, Wachovia rejected the fresh new applications from Latinos an astonishing cuatro.nine minutes more frequently than whites, and you can declined the brand new programs out-of African Us americans 2.83 times more frequently than whites. This type of large denial rates disparities are not told me from the one greater-than-regular outreach in order to African Us americans otherwise Latinos. In 2002 contained in this MSA, Wachovia generated 1224 conventional household get fund so you can whites, simply 177 to African Us americans, and only 76 in order to Latinos. For those about three groups, this new aggregate made fourteen.2% of their funds so you can African Us americans, and you will 8.2% in order to Latinos. For Wachovia, the brand new data have been lower across the board: 12% so you can African Us americans, and only 5.1% so you’re able to Latinos.
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