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Tag: discrimination


Regulations

Citi fined $25.9M over alleged discrimination

November 8, 2023

Via: Banking Dive

Under the order, Citi will pay $1.4 million to harmed consumers along with a $24.5 million penalty. “Citi purposefully discriminated against applicants of Armenian descent, primarily based on the spelling of their last name,” CFPB Director Rohit Chopra said in […]


Regulations

Wells Fargo Seeks to Settle ‘Banking While Black’ Mortgage Case

June 5, 2023

Via: Insurance Journal

Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said […]


Capital and Risk, Credit

Study finds discrimination against Black small business loan applicants

July 20, 2020

Via: Banking Technology

The study, published on 16 July, used a match-pair “mystery shopper” test, where a Black and a white applicant with nearly identical business profiles and strong credit histories would contact the same bank. In 27 of the 63 cases, white […]


Regulations

JPMorgan Settles for $5 Million with Employee Who Claimed Anti-Dad Bias

June 3, 2019

Via: Insurance Journal

JPMorgan Chase & Co. has agreed to pay $5 million to resolve a discrimination claim filed by a male employee who alleged the bank’s parental leave policy was biased against dads. The payout resolves a 2017 complaint brought by the […]