AFP - US Attorney General Eric Holder on Wednesday announced a fine of $335 million against Bank of American unit Countrywide over allegations it charged African-Americans and Hispanics more for loans.
The Justice Department said around 200,000 qualified African-American and Hispanic borrowers were charged with higher rates "solely because of their race or national origin."
"Today's settlement makes clear that today's Justice Department... will not hesitate to aggressively hold lenders, including the nation's largest, accountable for discrimination and financial misconduct," said Holder.
The discrimination was said to have taken place from 2004 through 2008, before Bank of America bought Countrywide.
The settlement provides $335 million in compensation for victims.
Source: Bank of America to pay $335m for discrimination - FRANCE 24