SunTrust Pays $21 Million to Settle Biased Pricing Allegations, Compliance Expert Predicts Rise in Loan Denial Complaints
June 7, 2012
SunTrust Mortgage has agreed to pay $21 million to the federal government to resolve a lawsuit alleging pricing discrimination against minority borrowers over a period of four years. The Department of Justice, which brought the pricing lawsuit, said the settlement also requires that SunTrust continue the anti-discrimination policies and practices it had adopted prior to the settlement. The mortgage lender agreed to the settlement voluntarily without admitting to any wrongdoing and without any factual findings, adjudications or litigation. Filed in U.S. District Court in Richmond, VA, the...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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