Indian-American Republican, Vivek Ramaswamy, has criticised Bank of America’s new policy for home loans. The new policy entitles any American to get a home loan without any ‘down payment’ given he belongs to either Black or Hispanic communities.
Ramaswamy expressed his thoughts about this new scheme on X (Twitter) where he predicted that this act of ‘anti-racism’ will become ‘systemic racism’ in future.
Bank of America backed its move by citing the gap in homeownership among different communities in the USA. The gap is 30% between White and Black Americans, while it is 20% between White and Hispanic communities.
Ramaswamy used to be one of the popular candidates in the Republican Party for the highest post in the USA. But, there has been a shift in his popularity in the last few months. In the state polls, Ramaswamy is far behind the other candidates with less than 10% support.
