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Bank of America

Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial

Dec, 2011
Washington D.C., U.S.

In December 2011, the Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practices at Countrywide Financial. Attorney General Eric Holder said a federal probe found discrimination against qualified African-American and Latino borrowers from 2004 to 2008. He said that minority borrowers who qualified for prime loans were steered into higher-interest-rate subprime loans.


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