That was fast!
The Guardian-
JP Morgan Chase agreed to pay $55m to settle charges that the bank discriminated against “thousands” of minorities seeking home loans by charging them higher rates and fees.
The decision came after US attorney Preet Bharara filed a complaint on Wednesday alleging that the US’s biggest bank discriminated against at least 53,000 African American and Hispanic mortgage seekers between 2006 and 2009 in violation of the Fair Housing Act.
Minority borrowers were owed “tens of millions of dollars in damages”, the government said, because JP Morgan allowed them to be charged higher rates and fees than “similarly situated white borrowers”.
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