DOJ fines mortgage lender Fairway for alleged racial discrimination

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Reuters

 The U.S. Justice Department and the Consumer Financial Protection Bureau penalized Fairway Independent Mortgage Corporation for alleged redlining in Black neighborhoods in Birmingham, Alabama, the agencies said on Tuesday, which the company denies.

The mortgage lender will pay a $1.9 million penalty and provide $7 million in loan subsidies as a result, the CFPB said in a statement.

Fairway determined that a settlement with the bureau would be the most appropriate solution, the company said in a statement.