J.P. Morgan Chase's $55 Million Discrimination Settlement
A claim filed on Wednesday alleges that the bank charged black and Hispanic homeowners higher rates for mortgages, amounting to "tens of millions" of dollars of illegal charges.
On Wednesday, the U.S. attorney for the Southern District of New York, Preet Bharara filed a lawsuit against J.P. Morgan Chase alleging that the bank had engaged in discriminatory mortgage practices from 2006 through 2009. According to the complaint, the bank is responsible for brokers charging black and Hispanic borrowers higher rates for mortgages than white borrowers with similar
