Townstone To Pay $105K In Redlining Settlement

Townstone To Pay $105K In Redlining Settlement

ByTMN Editor Reading Time: 2 minutes

Mortgage broker Townstone Financial is set to pay a $105,000 penalty to resolve redlining allegations in Chicago. The Consumer Financial Protection Bureau filed a proposed order to resolve its case against Townstone for discriminatory lending practices and redlining in predominantly Black Chicago neighborhoods. The order would stop Townstone from “taking any actions that violate the…

Navy Federal Responds To Allegations Of Discrimination

Navy Federal Responds To Allegations Of Discrimination

ByTMN Editor Reading Time: 2 minutes

Navy Federal Credit Union responded aggressively to allegations that it discriminated against minority mortgage borrowers, rejecting more than half of Black applicants in 2022. An investigative report from CNN and a class-action lawsuit allege that the credit union, which lends to military service members and veterans, had the biggest gap in approval rates between white…

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