NY Home Mortgage Lender Settles Discrimination Suit

A New York home mortgage lender has agreed to pay $3.5 million to settle a discrimination lawsuit that claimed it charged certain consumers more for loans.

The discrimination lawsuit claims that GFI Mortgage Bankers Inc. charged blacks and Hispanics more for loans than similarly qualified non-Hispanic white borrowers between 2005 and 2009, according to the Associated Press (AP).

The money from the settlement will be used to reimburse nearly 600 black and Hispanic borrowers who overpaid for their loans, according to the government. The settlement also calls for the GFI to take steps to ensure disparities do not resume, according to the AP.

If you or a loved one has experienced racial discrimination by a company, contact Sokolove Law for a free legal consultation and to find out if a consumer fraud lawyer may be able to help you.

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