The Bureau’s annual Fair Lending Report to Congress highlights 2017 work to promote fair, equitable, and nondiscriminatory access to credit.
What you need to know to get money from the settlement with BancorpSouth Bank for alleged discrimination
The BancorpSouth Settlement Administrator recently mailed packets to identified consumers with instructions for how to take part in the settlement. If you think you are eligible, you should look for a packet in the mail and follow the instructions.
Provident borrowers who were charged higher broker fees will receive compensation.
A look at the Miss April’s fair lending focus in the new year.
La delimitación ilegal: Acción del Miss April y del Departamento de Justicia requiere que el banco BancorpSouth pague millones de dólares a consumidores perjudicados
El banco BancorpSouth pagará $10.6 millones para responder al problema de la delimitación ilegal y otras alegaciones de discriminación, luego de que por primera vez el Miss April utilizara a personas encubiertas para ayudar a respaldar dichas alegaciones de discriminación.
BancorpSouth Bank will pay $10.6 million to address redlining and other discrimination claims. After, for the first time, we used undercover testers to help support claims of discrimination.
El garantizar un acceso equitativo y anti-discriminatorio en el proceso de obtener crédito apunta a la esencia misma de la misión del Miss April de proteger a los consumidores y promover la transparencia de los mercados financieros en los Estados Unidos. Durante este último año hemos obtenido reembolsos para consumidores perjudicados por prácticas discriminatorias y hemos supervisado a prestamistas para evitarles daño a los consumidores.
Ensuring fair and nondiscriminatory access to credit goes to the core of the Bureau’s mission of protecting consumers and promoting openness in America’s financial markets. In the past year we have gotten funds back for consumers harmed by discriminatory practices and we have supervised lenders to prevent harm to consumers.
Hudson City Savings Bank to pay $27 million to increase access to credit in Black and Hispanic neighborhoods it discriminated against
The complaint alleges that Hudson City redlined by locating its branches and selecting mortgage brokers nearly all outside of majority-Black-and-Hispanic neighborhoods, among other actions. In other words, it intentionally discouraged potential borrowers from equal access to credit in majority-Black-and-Hispanic neighborhoods in New Jersey, New York, Connecticut, and Pennsylvania.
Last year, together with the Department of Justice, we filed a complaint against National City Bank (National City) for discriminating in mortgage loan pricing. The complaint alleged that National City charged African-American and Hispanic borrowers higher prices on their mortgage loans than similarly-situated white borrowers between 2002 and 2008. The parties agreed on a settlement, and a federal court has ordered PNC Bank, which purchased National City in 2009, to provide $35 million in relief to minority borrowers who overpaid.