January 24, 2017

Citigroup Subsidiaries to Pay $28.8 Million for Misleading US Homeowners

Bank

The United States Consumer Finance Protection Bureau has announced fines against subsidiaries of Citigroup totalling $28.8 million for deceiving borrowers on mortgage service fees by concealing material information about foreclosure avoidance options and increasing the difficulties of their applying for relief. The fines include a civil penalty against CitiMortgage of $3 million and refunds of…

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January 18, 2017

JP Morgan Chase Agrees to $55 Million Settlement Over Mortgage Discrimination Against Latinos and African-Americans

Banks and discriminatory mortgage lending

In a story being widely reported across the media, banking giant J.P. Morgan Chase & Co. has agreed to a $55 million settlement with the U.S. Department of Justice in the face of allegations that the bank discriminated against minority borrowers by allowing mortgage brokers to charge them more for home loans. The DOJ’s complaint…

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