U.S. regulator drops fine against Citi over fair-lending claims – sources

Sad…

WASHINGTON (Reuters) – A top U.S. bank regulator has decided not to fine Citigroup for discriminating against minority mortgage borrowers, dropping the public rebuke that some officials had sought, two people familiar with the matter told Reuters.

The decision is sure to be watched by consumer advocates who have questioned whether the Office of the Comptroller of the Currency (OCC) will enforce fair lending rules under the leadership of Joseph Otting, an appointee of President Donald Trump and former banker who has pledged to be friendlier to the industry.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s