The study takes a few dozen pages to say:
“Lenders are substantially more likely to deny loans to people of color, regardless of their income.”
To which I will only say:
This study and the data it uses, taken from HMDA, does not account for credit quality (among other factors), and when we are talking about credit, income is very beside the point.
Credit is not about can you. It is about do you. There is a difference, and too few people understand this.
If you make $10,000 per year and pay your debts as agreed, people will lend you money. If you make a million dollars a year and don’t pay your debts as agreed, you will pay cash for things.
Now, am I willing to believe that there are some racial disparities in lending? Sure. But to make this claim without a study that takes into account all of the variables in every lending decision gets us exactly nowhere.