(Reuters) – The UNITED STATE Justice Department and the Consumer Financial Protection Bureau punished Fairway Independent Mortgage Corporation for declared redlining in Black areas in Birmingham, Alabama, the companies stated on Tuesday.
The home mortgage loan provider will certainly pay a $1.9 million fine and give $7 million in car loan aids because of this, the CFPB stated in a declaration.
“This case is a reminder that redlining is not a relic of the past, and the Justice Department will continue to work urgently to combat lending discrimination wherever it arises and to secure relief for the communities harmed by it,” UNITED STATE Attorney General Merrick Garland stated.
(Reporting by Douglas Gillison; modifying by Jonathan Oatis)
