Bank settles discrimination claims
Nixon State Bank has recently settled claims that alleged discrimination based on national origin.
The complaint alleges that the bank charged higher prices to Hispanic borrowers who made loans and that this violated the Equal Credit Opportunity Act.
The settlement states that the Nixon Bank must pay nearly $100,000, conduct employee training and establish uniform pricing.
Until 2009, the bank allowed loan officers discretion when they set their interest rates for borrowers, which resulted in pricing that was not fair to all. The complaint alleged that the Hispanic community saw the largest impact.
If you or a loved one has been the victim of discrimination, you need experienced representation on your side. Contact the Austin national origin discrimination lawyer of The Melton Law Firm by calling 512-330-0017 today.