Hispanic and African-American borrowers who paid higher broker fees than white borrowers on mortgage loans from Provident Funding Associates from 2006 to 2011 will soon receive their share of a $9 million settlement.
Last year, the Consumer Financial Protection Bureau and the Department of Justice filed a complaint against Provident Funding, accusing the company of charging higher fees to minority borrowers based on their race or nationality, rather than their credit profile.
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