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The DOJ and the CFPB penalized Fairway Independent Mortgage Corporation for alleged redlining in Black neighborhoods in Birmingham, Alabama, the agencies said https://t.co/oPi23aE7aa https://t.co/SeBCvoCoSn
🏠 US penalizes Fairway Independent Mortgage $1.9 million for alleged racial discrimination in Alabama Tickers of interest: $FMCC $FNMA Full Story → https://t.co/WZw5P27u1Z https://t.co/elVc7kDcGL
⚠️ US DEPARTMENT OF JUSTICE, CONSUMER FINANCIAL PROTECTION BUREAU ANNOUNCE REDLINING ENFORCEMENT ACTION AGAINST FAIRWAY INDEPENDENT MORTGAGE CORPORATION **MORTGAGE LENDER FAIRWAY TO PAY $1.9 MLN PENALTY, OFFER $7 MLN IN SUBSIDIES FOR DISCRIMINATION AGAINST MAJORITY-BLACK…
The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) have taken significant actions against financial institutions for discriminatory practices. Citadel Federal Credit Union has agreed to pay $6.5 million to settle DOJ’s redlining claims in Philadelphia, marking the first time a credit union has settled such a complaint. Additionally, the DOJ and CFPB have penalized Fairway Independent Mortgage Corporation for redlining Black neighborhoods in Birmingham, Alabama. Fairway will pay a $1.9 million penalty and offer $7 million in subsidies to affected communities. This marks a historic multi-million dollar settlement.
