Submitted by Leslie Black-Plumeau on June 1, 2016 - 3:45pm
Black and Latino mortgage applicants from New England continued to experience much higher denial rates than whites and Asians in 2013 and 2014, according to the Federal Reserve Bank of Boston’s recent study. The disparity occurred at every income level.
Our brains process information differently. When making important life decisions, we weigh a few factors deliberately (slowly). But for hundreds of other factors, we must rely on intuitive judgment — and we weigh these unconsciously (quickly). Even if in our slow thinking we work to avoid discrimination, it can easily creep into our fast thinking.