Ameriquest Charged With Race Discrimination

Law360, New York (April 16, 2007, 12:00 AM EDT) -- Ameriquest Mortgage Co., the largest privately held mortgage firm in the United States, was hit with a proposed class action lawsuit on Friday that accuses it of targeting African Americans for predatory subprime loans.

The complaint, filed in the U.S. District Court for the Middle District of Tennessee, alleges that Ameriquest uses high-pressure sales tactics and misleading marketing to trick African Americans into taking loans they can’t afford.

“Ameriquest acts with total disregard of these potential devastating consequences for African-American borrowers because the high upfront fees...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.