The allegations against Fairway Independent Mortgage Corp. highlight ongoing issues of lending discrimination, illustrating that redlining practices remain a significant concern in America.
Attorney General Merrick B. Garland emphasized that redlining is still a pressing issue, asserting that the Justice Department will take vigorous actions against discrimination in lending.
Fairway labeled the accusations as 'intentionally inflammatory', claiming the investigation was politically motivated and that their practices were mischaracterized by government agencies.
In response to the allegations, Fairway agreed to a $1.9 million settlement and committed $8 million to a loan subsidy program aimed at supporting affordable mortgages in Black neighborhoods.
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