"JPMorgan settles federal mortgage discrimination suit for $55 million", 18 Jan 2017

JPMorgan Chase said Wednesday that it had agreed to settle a federal lawsuit accusing the bank of working with mortgage brokers who discriminated against minority borrowers for years by charging them $1,000 more than white customers.  The case was settled for $55 million...Between 2006 and 2009, JPMorgan charged at least 53,000 black and Hispanic borrowers more than white borrowers with the same credit and risk profiles, according to a lawsuit...Black borrowers were charged an average of about $1,126 more for a $191,100 mortgage loan, while Hispanic customers were charged about $968 more on an average loan of about $236,800.  These borrowers, the lawsuit alleged, collectively suffered “tens of millions of dollars in damages” in violation of the U.S. Fair Housing Act and the Equal Credit Opportunity Act...JPMorgan denied the allegations..."We deny any wrongdoing and remain committed to providing equal access to credit.”...Also Wednesday, the Labor Department filed an administrative complaint against JPMorgan, accusing the bank of paying some female employees less than their male counterparts...In a statement, JPMorgan denied the allegations and said it was committed to corporate diversity...