U.S. sues JPMorgan for alleged mortgage discrimination

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U.S. sues JPMorgan for alleged mortgage discrimination

U.S. sues JPMorgan for alleged mortgage discrimination

Reuters-

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.

[REUTERS]

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