U.S. sues JPMorgan for alleged mortgage discrimination

[DonViejo]

Source: Reuters


By Dena Aubin | NEW YORK

The United States on Wednesday sued JPMorgan Chase & Co, accusing the bank of discriminating against minority borrowers by charging them higher rates and fees on home mortgage loans between 2006 and at least 2009.

Filed in a Manhattan federal court, the government's complaint accused the bank of violating the U.S. Fair Housing Act and the Equal Credit Opportunity Act by charging thousands of African-American and Hispanic borrowers more for home loans than white borrowers with the same credit profile.

JPMorgan Chase and U.S. Attorney Preet Bharara did not immediately respond to requests for comment.

The alleged discrimination involved so-called wholesale loans that were made through mortgage brokers the bank used to originate loans, the complaint said. Chase allowed brokers to change rates charged for loans from those initially set based on objective credit-related factors, the complaint said.

Read more: http://www.reuters.com/article/us-jpmorgan-lawsuit-idUSKBN1521TY?il=0

[underpants]

1. Obama left this from Trump and Sessions to deal with

If that's the case BRAVO!

In any case Snowflake is going to find out that with the limited DoJ budget he can't just go around suing of threatening to sue everyone.

[dixiegrrrrl]

2. Trump et al will not pursue this case

they are too cozy with the bankers.
and I want to know why the Obama admin. took 8 years to file this suit, 2 minutes before we change presidents.

[Igel]

3. PR.

Or "optics," as many word-smiters like to call it.

[TexasTowelie]

4. JPMorgan settled the lawsuit for $55 million.

http://www.democraticunderground.com/10028493097