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CFPB, DOJ reach settlement with Provident Funding to resolve allegations of mortgage lending discrimination

( May 28, 2015, 19:40 GMT | Official Statement) -- MLex Summary: The US Department of Justice and US Consumer Financial Protection Bureau filed a consent order on Thursday to resolve allegations that California-based Provident Funding Associates charged higher broker fees on mortgage loans to African-American and Hispanic borrowers. Under the terms of the proposed settlement, Provident will pay $9 million into a fund for the benefit of harmed borrowers. Statement follows in full. ...

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