Black-owned businesses faced the highest loan rejection rate of any racial or ethnic group in 2024, with 39% of applications being denied, while white-owned businesses only faced an 18% rejection rate.
Tag: Navy Federal Credit Union
Posted inFinance, National
Largest US Credit Union Scrutinized Over Significant Gaps Between Approval Rates for White and Black Borrowers
By Stacy M. Brown Navy Federal Credit Union, the largest credit union in the United States, is under fire for exhibiting the most substantial racial disparities in mortgage approval rates […]