CFPB, DOJ file discriminatory lending complaint against National City Bank

CFPB, DOJ file discriminatory lending complaint against National City Bank

Supreme Court May Nix Disparate Impact in Fair Lending Enforcement.. The CFPB and DOJ settled claims of this sort against Ally Bank in December 2013 and have since intensified their enforcement efforts.. the DOJ and CFPB settled a matter with National City Bank in December 2013 relating to discretionary mortgage pricing by loan officers.

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In the complaint, the CFPB and DOJ allege that National City Bank violated the ECOA by charging African-American and Hispanic borrowers higher mortgage prices than similarly creditworthy white borrowers. The DOJ also alleges that National City violated the Fair Housing Act, which similarly prohibits discrimination in residential mortgage lending.

CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing (dec 2013)3: national city bank (Now PNC) settled a complaint by paying $35 million in restitution for charging higher prices on mortgage loans to minority borrowers CFPB Orders American Express to Pay $85 Million Refund to Consumers Harmed by an.

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 · CFPB, DOJ file discriminatory lending complaint against National City BankThe Consumer Financial protection bureau continues to flex its enforcement arm, announcing Monday that the agency — along with the Department of Justice — filed a joint discriminatory lending complaint against national city bank.In the suit, the two agencies allege the bank’s loan officers charged.

The Consumer Financial Protection Bureau continues to flex its enforcement arm, announcing Monday that the agency — along with the Department of Justice– filed a joint discriminatory lending.

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National City Bank (W.D. Pa.), an Equal Credit Opportunity Act and Fair Housing Act case. PNC Bank is the successor in interest to National City Bank. The complaint alleged a pattern or practice of discrimination on the basis of race and national origin in residential mortgage lending.

On June 29, the Consumer Financial Protection Bureau (CPPB) and Department of Justice (DOJ) announced a joint enforcement action against a regional bank for alleged discriminatory mortgage lending in violation of the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), filed in the District Court for the Northern District of Mississippi.

Harmed African-American and Hispanic Borrowers Will Receive $35 Million in Restitution WASHINGTON, D.C. – December 24, 2013 – (RealEstateRama) – The Consumer Financial Protection Bureau.

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