The bank celebrates a 20% increase in profits and boasts about granting mortgages with responsible criteria. However, its average rate of 2.4% is a reality that leaves out lower-income earners. Banks prioritize risk and profitability over the right to housing, creating an inequality gap that the market does not correct on its own.
Algorithms that discriminate: the hidden bias in credit granting 🏦
Scoring systems use predictive models that penalize job instability or irregular income, common among young people or freelancers. Applications are filtered through automated analysis that discards those who do not fit a low-risk profile. Technology, far from democratizing access, replicates historical biases. A regulation that requires allocating a percentage of mortgages to low-income earners would force a review of these criteria.
The affordable mortgage: that myth banks keep in the safe 🔒
BBVA claims it lends responsibly, but it seems it only uses its head to calculate its margin. Meanwhile, mortals who don't earn 50,000 euros a year settle for renting a leaky apartment. The solution is simple: the government should force banks to be supportive. Or, at least, pretend they care about decent housing as much as their dividend.