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Mortgage discrimination or mortgage lending discrimination is the practice of banks, ... Fairness in lending was improved by the Home Mortgage Disclosure Act, passed ...
The Home Mortgage Disclosure Act (or HMDA, pronounced HUM-duh) is a United States federal law that requires certain financial institutions to provide mortgage data to the public. Congress enacted HMDA in 1975.
The Equal Credit Opportunity Act of 1974 and Community Reinvestment Act of 1977 helped with discrimination in mortgage lending and lenders' problems with credit needs. [20] The Fair Housing Amendments Act of 1988 was passed to give the federal government the power to enforce the original Fair Housing Act to correct past problems with ...
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It was fined $250 million in 2021 for failing to address problems in its mortgage business, and more recently paid $3.7 billion for consumer abuses on products including home loans.
NEW YORK (AP) — The Justice Department accused Los Angeles-based City National Bank on Thursday of discrimination by refusing to The post Bank to pay $31M in mortgage discrimination settlement ...
Like the Equal Credit Opportunity Act of 1974, this piece of legislation was also designed to supplement the Fair Housing Act in specific areas of housing discrimination. This act protected applicants from discrimination through lending institutions by requiring that any financial institution providing federally related mortgage loan disclose ...
The U.S. Justice Department and a New Jersey bank have struck a $13 million settlement in a mortgage discrimination complaint […] The post Justice Department, NJ bank reach $13M settlement in ...