CFPB, DOJ file discriminatory lending complaint against National City Bank

Feds Probe PNC Over Mortgage Loans, Potential Fraud. District of New York regarding National City Bank’s lending practices for loans. filing of a civil complaint against the company in its.

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.

firm stand against discrimination in a critical lending market," said Attorney General. of characteristics such as race and national origin. The CFPB and DOJ’s coordinated investigation concluded that Ally violated the ECOA. For auto loan questions or to submit a complaint, consumers.

National Mortgage Professional The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a joint complaint against National City Bank for charging higher prices on mortgage loans to African-American and Hispanic borrowers than similarly creditworthy white borrowers between the years 2002 and 2008.

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Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against BancorpSouth Bank for discriminatory mortgage lending practices that.

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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.

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Plaintiffs Consumer Financial Protection Bureau ("CFPB") and the United States of America ("Department of Justice" or "DOJ") bring this action to remedy discrimination by National City Bank against approximately 76,000 African-American and Hispanic residential mortgage borrowers between 2002 and 2008.

In the joint complaint, the CFPB and DOJ allege that National City Bank violated the Equal Credit Opportunity Act (ECOA), which prohibits creditors from discriminating against loan applicants on the basis of race or national origin.

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Share This Page CFPB & doj announce settlement with mortgage lender charged with discriminatory broker compensation June 01, 2015 / Source: Ballard Spahr The CFPB announced last week that, together with the Department of Justice (DOJ), it had entered into a proposed consent order with Provident Funding Associates, a wholesale mortgage lender, to settle charges that Provident violated the FHA.