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Posted By: CAReview Editor Sep 8, 2016

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JPMorgan Pays $55M to Settle Mortgage Discrimination Lawsuit

JPMorgan Chase agreed to a settlement with the U.S. government over allegations that it discriminated against “thousands” of black, Hispanic mortgage borrowers from 2006 through 2009. The bank’s independent brokers charged minority borrowers higher mortgage interest rates and fees during that period, compared to “similarly situated white borrowers,” according to a government lawsuit filed Wednesday in a New York federal court. JPMorgan is expected to settle the lawsuit for $55 million without admitting any liability. “We’ve agreed to …

Apr 17, 2017

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