NY AG, Mortgage Broker Resolve Housing Bias Suit

Law360, New York (May 27, 2009, 12:00 AM EDT) -- Mortgage broker U.S. Capital Funding LLC has agreed to overhaul its fee policies and compensate overcharged black and Latino customers in order to resolve a housing discrimination suit brought by New York Attorney General Andrew Cuomo.

In a consent decree filed Tuesday in the U.S. District Court for the Eastern District of New York, U.S. Capital did not admit or deny Cuomo's allegations, and both parties said they were entering the compromise to avoid the expense and inconvenience of further litigation.

The New York-licensed mortgage broker...
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