The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining.
The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 million consent order, stemming from a referral the CFPB made in November 2020. It’s the DOJ’s second-largest mortgage redlining settlement ever, and its first against a non-bank mortgage lender.
The complaint alleged Trident Mortgage Co., a subsidiary of Warren Buffet’s Berkshire Hathaway, discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority details ⇒
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