The vacant property next door to Chicago resident Mae Campbell has cast a pall over her neighborhood of Austin for more than five years. The home, which she said was owned by Bank of America until very recently, has overgrown grass, water damage and boarded-up windows. "We bought locks to chain it up to keep squatters... Continue Reading »
WASHINGTON -- Wells Fargo & Co has agreed to pay $125 million to resolve allegations it discriminated against certain borrowers on the basis of race and national origin in its mortgage lending, the U.S. government said on Thursday. Wells Fargo also agreed to contribute $50 million to help those buyers making down... Continue Reading »
Jun 5th 2012 3:15PM
A Boston National Guardsman is suing a pacifist landlord for allegedly denying him the right to rent an apartment on the basis of his military status, the Boston Herald reports. Sgt. Joel Morgan (pictured below) told the newspaper that his experience has been "like a spit in the face." "For what... Continue Reading »
Apr 19th 2012 4:45PM
The Consumer Financial Protection Bureau has announced its intention to crack down on discrimination by lenders against women and minorities. On Wednesday the agency -- a centerpiece of President Barack Obama's attempt to reform the nation's financial system -- sent a letter to lenders, which it called "Fair Notice on... Continue Reading »
Nov 21st 2011 4:22PM
Blacks and Hispanics with credit scores higher than 660 received subprime and option adjustable-rate mortgages three times as often as white borrowers in similar financial standing between 2004 and 2008, according to a new study from the Center for Responsible Lending. The center studied the loan quality, borrower... Continue Reading »
