Thursday, January 19, 2017

JPMorgan Settles Discrimination Suit for $55M


US Attorney Accused Bank of Overcharging Minorities for Mortgages


JPMorgan Chase agreed to pay $55 million to settle charges that independent mortgage brokers working with the bank discriminated against minorities.

In a complaint filed Wednesday, U.S. Attorney for the Southern District of New York Preet Bharara alleged that the brokers charged black and hispanic borrowers higher rates than their white peers between 2006 and 2009. 

Click here for the full article.

Source: TheRealDeal.com (via The Empire Report) 

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