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January 19, 2017

JPMorgan settles mortgage bias suit

NEW YORK (AP) — JPMorgan Chase is settling charges that independent brokers working for the bank discriminated against minorities seeking home mortgages.

A federal suit filed Wednesday in Manhattan accused JPMorgan Chase & Co. of charging black and Hispanic borrowers higher interest rates and fees for mortgages from 2006 to at least 2009. The lawsuit alleges that discrimination cost at least 53,000 minorities borrowers tens of millions in higher interest payments and fees.


 
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