JPMorgan Chase to Pay $55M to Settle Housing Discrimination Lawsuit

HeadlineJan 19, 2017

In financial news, JPMorgan Chase will pay $55 million to settle a lawsuit with the Justice Department accusing the bank of discriminating against more than 50,000 homeowners of color between 2006 and 2009. The lawsuit accuses JPMorgan Chase of violating the Fair Housing Act and Equal Credit Opportunity Act. As part of the settlement, JPMorgan Chase does not have to admit wrongdoing, and no bankers are facing criminal charges.

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