$300 Million Racial Discrimination Settlement
By: Jenny Hunt
Updated: February 28, 2013
Indianapolis-
U.S. Attorney Joe Hogsett has announced plans to locate victims of discriminatory lending practices by Countrywide Financial Corporation. The $335 million settlement stems from allegations that from 2004 to 2008, the company intentionally charged more than a thousand latino and black Hoosiers higher fees and interest rates than white borrowers with similar credit profiles. Documents from the U.S. Department of Justice allege the company had intentionally directed more minority applicants toward risky sub-prime mortgages.
Most victims in Indiana have been identified through a letter notifying them of the settlement but there are still nearly 400 that have not responded.
For more information, click on the link below.
http://www.justice.gov/crt/about/hce/documents/countrywide_rust_administrator_english.php
U.S. Attorney Joe Hogsett has announced plans to locate victims of discriminatory lending practices by Countrywide Financial Corporation. The $335 million settlement stems from allegations that from 2004 to 2008, the company intentionally charged more than a thousand latino and black Hoosiers higher fees and interest rates than white borrowers with similar credit profiles. Documents from the U.S. Department of Justice allege the company had intentionally directed more minority applicants toward risky sub-prime mortgages.
Most victims in Indiana have been identified through a letter notifying them of the settlement but there are still nearly 400 that have not responded.
For more information, click on the link below.
http://www.justice.gov/crt/about/hce/documents/countrywide_rust_administrator_english.php
