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The Cost of DOJ Fair Lending Settlements

Posted on August 20, 2012August 21, 2015 by Rick Preiss

There have been several Department of Justice fair lending settlements recently: Countrywide, SunTrust and Wells Fargo specifically. There are likely numerous takeaways from these settlements but let us focus on one of them: cost. To be sure, charges of non-compliance with fair lending rules and regulation can be very expensive. The Cases Calculating the cost […]

DOJ Files Complaint Against GFI Mortgage Bankers

Posted on April 11, 2012August 21, 2015 by Rick Preiss

April 11, 2012 Last week the Department of Justice filed a complaint against GFI Mortgage Bankers, Inc. of New York. DOJ alleged “that GFI engage in a pattern or practice of discrimination on the basis of race and national origin by charging African-Americans and Hispanic borrowers higher interest rates and fees on home mortgage loans […]