VivirLatino

H&R Block a Bunch of Racist Blockheads When It Comes to Lending Practices

08:21 H | Topics: Massachusetts - Money

The Massachusetts Attorney General's office filed a lawsuit against H&R Block on Tuesday, accusing the company known for it's tax filing services, of discriminating against black and Latino borrowers and escalating a crisis over property foreclosures in the state. This is the first lawsuit initiated by a state accusing civil rights violations in the middle of a nation-wide mortgage and foreclosure crisis.

The lender charged black and Latino borrowers, on average, several hundred dollars more in points and fees to close loans than similarly situated white borrowers, and that it targeted black and Latino consumers with marketing "that pushed the sale of predatory loan products."
"This price disparity is not explained by borrower credit scores or other risk-related characteristics," it said. "In some instances, the black or Latino borrowers paid double in points and fees than white borrowers paid."

Via / Reuters

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