Reuters: Regulatory News: SunTrust Bank, U.S. reach settlement in discrimination case

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SunTrust Bank, U.S. reach settlement in discrimination case May 31st 2012, 18:34 WASHINGTON | Thu May 31, 2012 2:34pm EDT WASHINGTON May 31 (Reuters) - SunTrust Bank Inc's mortgage-lending unit will pay $21 million to compensate African-American and Latino borrowers who were charged more for home loans based on race, the U.S. government said on Thursday. The U.S. Justice Department alleged that SunTrust charged higher fees to more than 20,000 minority borrowers. The government reviewed prime loans during a four-year period and found between 2005 and 2009, SunTrust violated anti-discrimination laws while financing homeowners.

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