The Federal Trade Commission is reporting today:
The Federal Trade Commission has charged a home mortgage lender and its owner with violating federal law by charging Hispanic consumers higher prices for mortgage loans than non-Hispanic white consumers – price disparities that cannot be explained by the applicants’ credit characteristics or underwriting risk. The FTC seeks to bar future violations and obtain redress for consumers.
It seems that the FTC noticed if all economic factors were the same between a Hispanic client and white client, the white clients were given cheaper interest rates on a consistent basis.
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Tags: credit repair, credit repair services, FTC, mortgage lender