Thursday, May 28, 2015

CFPB, DOJ take action against Provident Funding for discriminatory lending

In the latest investigation by the Consumer Financial Protection Bureau and the Department of Justice, they filed a complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The lender could potentially pay $9 million in damages if the court accepts the order.

from Byrd Mix via byrd residential developer

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