DOJ uses extortion of banks to get funding for left wing groups
Bank of America has been able to reduce a multi-billion dollar mortgage fraud penalty imposed by the Justice Department by giving millions of dollars to liberal groups approved by the Obama administration.La Raza is a racist Hispanic group whosse very name means "The Race." This funding of left wing groups by the govenrment should be prohibited by Congress. They need to take back the appropriation process.
The bank has wiped about $194 million off its record $16.6 billion 2014 mortgage settlement by donating to nonprofits and legal groups. Thanks to little-known provisions in the settlement, the bank only had to make $84 million in donations to do that.
The bank wasn't exploiting any loophole. It's a key part of the deal the Justice Department offered to get it to settle in the first place. For every dollar the bank has given the nonprofits — none of which were victims of fraud themselves — it has claimed at least two dollars off the settlement. The deal ensured the Obama administration that a certain part of the settlement funds would go to friendly liberal groups, bypassing the normal congressional appropriations.
Among the groups receiving the money were Hispanic civil rights group the National Council of La Raza ($1.5 million), the National Urban League ($1.1 million) and the Neighborhood Assistance Corporation of America ($750,000).