mortgage lending News

Providence, R.I., Sues Santander Bank, Alleging Mortgage Bias

Banco Santander SA’s U.S. unit was sued by the city of Providence, Rhode Island, over claims it stopped issuing mortgages in minority neighborhoods after the housing bubble burst, the latest in a series of discrimination lawsuits against lenders by U.S. …

Los Angeles Sues Citi, Wells Fargo Over Discriminatory Lending

The city of Los Angeles has filed a lawsuit against Citigroup and Wells Fargo, seeking damages for a loss in tax revenue due to discriminatory mortgage lending to the city’s minority communities, a court filing showed. In complaints filed in …

BofA’s Countrywide to Pay $335 Million to Settle Bias Case

Bank of America Corp.’s Countrywide Financial unit agreed on Wednesday to pay a record $335 million to settle civil charges that it discriminated against minority homebuyers, a historic settlement for the Obama administration in the wake of the subprime mortgage …