On July 12, 2012, the U.S. Department of Justice announced a $175 million settlement — the second largest fair lending settlement in the department’s history — to resolve allegations that Wells Fargo Bank engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009. Under …
African American
DOJ Sues NY Mortgage Company for Lending Discrimination
The U.S. Department of Justice has filed a lawsuit alleging that GFI Mortgage Bankers, Inc., violated the Fair Housing Act and the Equal Credit Opportunity Act by charging African-American and Latino borrowers higher interest rates and fees on home mortgage loans than white borrowers. According to the Justice Department’s press release announcing the lawsuit: From 2005 through at least …