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Lehman sued for charging minority homeowners more – (by a Hispanic) From: reuters.com
A Hispanic homeowner sued Lehman Brothers Bank on Thursday, accusing the lender of charging minority mortgage applicants higher fees and interest rates than white customers.
Pedro Rivas, who described himself as a Latino homeowner living in Pecoima, California, filed suit in U.S. District Court in Manhattan, charging the wholly owned unit of Lehman Brothers Holdings Inc with implementing a policy that causes “minority borrowers to pay subjective fees such as yield spread premiums and other mortgage-related finance charges at higher rates than similarly situated non-minority borrowers.”"*
*From: www.reuters.com
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Filed Under: Banking, Business Essentials, Business News, Real Estate, Top Stories
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