Fairway Independent Mortgage Corp. has agreed to settle with the Consumer Financial Protection Bureau (CFPB) and the U.S Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama, metro area.

The agreement, which was submitted for court approval, requires the Madison, Wisconsin-based mortgage lender to pay a $1.9 million civil penalty. It also must provide $7 million for a home loan subsidy program in majority-Black neighborhoods, and it must pay at least $1 million to serve the neighborhoods details ⇒

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