|
Defendant
|
Plaintiff
|
Court
|
Amount
|
Overview
|
Case Title |
Case Number
|
Date Filed |
Link to StoryLink to Story |
| Charles Schwab Bank |
U.S. Department of Housing and Urban Development |
n/a |
$30,000 |
HUD and Charles Schwab Bank reached a conciliation agreement settling allegations that the bank refused to accept a loan application from the son of a mother with disabilities. The son was acting under power of attorney for his mother. |
United States Department of Housing and Urban Development v. Charles Schwab Bank |
FHEO Case No. 04-09-0053-8 |
08/22/08 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Golden Empire Mortgage Inc. and Howard D. Koostra |
Federal Trade Commission |
United States District Court for the Central District of California |
$1,500,000 |
The FTC sued Defendants, a California-based lender and its owner, for allegedly charging Hispanic borrowers higher prices for mortgage loans than non-Hispanic white consumers. A total of $1.5 million in checks were mailed to 3,162 Hispanic borrowers who obtained a mortgage from Defendants. |
Federal Trade Commission v. Golden Empire Mortgage Inc. et al. |
2:2009cv03227 |
05/07/09 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Wells Fargo Bank, N.A., and Wells Fargo Financial Leasing, Inc. |
Mayor and City Council of Baltimore |
United States District Court for the District of Maryland Baltimore Division |
n/a |
Wells Fargo is accused of discriminatory lending practices including steering black borrowers who qualified for prime loans into subprime mortgages and targeting unqualified borrowers for refinance or home-equity loans that caused them to lose their houses. |
Mayor and City of Baltimore v. Wells Fargo Bank, N.A. |
1:08-cv-00062-JFM |
10/21/10 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Wells Fargo Bank, N.A., Wells Fargo Financial Tennessee, Inc., and Wells Fargo Financial Tennessee 1, LLC |
City of Memphis and Shelby County |
United States District Court for the Western District of Tennessee Western Division |
n/a |
Wells Fargo is accused of discriminatory lending practices that resulted in extraordinarily high rates of foreclosure in minority neighborhoods, which caused the County to lose property tax revenues and to spend additional funds for critical municipal services as foreclosed homes become vacant and deteriorated. |
City of Memphis et al. v. Wells Fargo Bank, N.A., et al. |
2:09-cv-02857-STA-dkv |
04/07/10 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Wells Fargo, N.A. |
Ohio Civil Rights Commission |
In the Common Pleas Court Cuyahoga County, Ohio |
n/a |
In Ohio, Attorney General Michael DeWine filed a lawsuit against Wells on behalf of the Ohio Civil Rights Commission alleging that the lender used reverse redlining to herd black borrowers into more expensive loans. |
Ohio Civil Rights Commission v. Wells Fargo, N.A., et al. |
CV11748383 |
02/19/11 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Citizens Republic Bancorp Inc. and Citizens Bank |
United States |
United States District Court for the Eastern District of Michigan |
$3,600,000 |
Defendants agreed to a $3.6 million settlement with the Justice Department over charges of alleged discrimination by a loan production office in a black Detroit neighborhood. The U.S. alleged violations of the Fair Housing Act and Equal Credit Opportunity Act. |
United States v. Citizens Republic Bancorp Inc., et al. |
2:2011cv11976 |
05/05/11 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Midwest BankCentre |
United States |
United States District Court for the Eastern District of Missouri |
$1,450,000 |
Defendant agreed to settle with the Department of Justice over allegations that it violated the Fair Housing Act and Equal Credit Opportunity Act and engaged in a pattern or practice of discrimination on the basis of race and color. A $1.45 million dollar settlement has been announced. |
United States v. Midwest BankCentre |
2:2011cv01086 |
06/16/11 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Mortgage Guaranty Insurance Corporation |
United States of America |
United States District Court Western District of Pennsylvania |
n/a |
HUD is charging MGIC with discriminating against a Pennsylvania family by denying their application for mortgage insurance unless and until the wife returned to work after maternity leave, in violation of the Fair Housing Act. |
United States Department of Housing and Urban Development v. Mortgage Guaranty Insurance Co. |
2:05-mc-02025 |
07/05/11 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Nixon State Bank |
United States |
United States District Court for the Western District of Texas |
$100,000 |
Texas-based bank allegedly charged higher loan prices to Hispanic borrowers in violation of the Equal Credit Opportunity Act. One factor tied to the alleged discrimination was the lack of a written loan pricing policy prior to 2009. |
United States v. Nixon State Bank |
5:2011cv00488 |
06/17/11 |
www.mortgagedaily.com/LitigationDiscrimination062111.asp |
| Wells Fargo N.A., Wells Fargo Tennessee, Inc. |
City of Memphis |
United States District Court for the Western District of Tennessee |
n/a |
Court denied Wells’ motion to dismiss suit alleging discrimination for mortage practices having adverse impact on african american borrowers. City alleged violations of Fair Housing Act and Tennessee Consumer Protection Act. |
City of Memphis v. Wells Fargo N.A. et al. |
2:2009-cv-2857 |
12/30/09 |
www.mortgagedaily.com/mctlawsuitdiscriminationwels050511.asp |
| Cornerstone Mortgage Company, d/b/a Cornerstone Home Lending and Cornerstone Home Lending, Inc. |
U.S. Department of Housing and Urban Development and Assistant Secretary for the Office of Fair Housing and Equal Opportunity |
n/a |
$750,000 |
HUD announced a settlement with Cornerstone Mortgage Company, who allegedly discriminated against a pregnant loan applicant. Cornerstone initially approved her for a loan, but rescinded its approval upon learning that the woman was on maternity leave, in violation of the Fair Housing Act. |
United States Department of Housing and Urban Development v. Cornerstone Mortgage Co. |
n/a |
n/a |
www.mortgagedaily.com/LitigationDiscrimination062111.asp, www.mortgagedaily.com/MctSettlementHud060211.asp |
| Mortgage Master |
Martha Coakley, Attorney General for the Commonwealth of Massachusetts |
n/a |
$250,000 |
Mortgage Master agreed to a settlement with the MA AG that calls for the firm to spend $95,000 refunding $250 to $1000 per borrower to those allegedly charged higher-than-normal fees because they were black. The firm will also pay $155,000 that the AG’s office plans to spend on consumer education. |
n/a |
n/a |
n/a |
www.mortgagedaily.com/MctMortgageMasters051811.asp |
