U.S. sues JPMorgan for alleged mortgage discrimination

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NEW YORK The United States on Wednesday sued JPMorgan Chase & Co (JPM.N), accusing the bank of discriminating against minority borrowers by charging them higher rates and fees on home mortgage loans between 2006 and at least 2009.

Filed in a Manhattan federal court, the government’s complaint accused the bank of violating the U.S. Fair Housing Act and the Equal Credit Opportunity Act by charging thousands of African-American and Hispanic borrowers more than white borrowers with the same credit profile for home loans.

(Reporting By Dena Aubin)

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