Texas-based land developer and lender Colony Ridge Land LLC has agreed to pay $68 million to settle allegations of predatory practices against Hispanic borrowers. A portion of the funds will be used to support immigration-related law enforcement.

The case dates back to December 2023, when the U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) sued the company. The plaintiffs accused Colony Ridge of operating an illegal land sales scheme and making false statements to tens of thousands of Hispanic borrowers in Texas, in violation of the Fair Housing Act and details ⇒

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