Reparations given to white borrowers: House report

A House Financial Services Committee report said the CFPB is erroneously sending settlement checks from Ally Financial to white borrowers after the lender’s alleged racial discrimination against African-Americans, Hispanics and Asians.

Committee Chairman Jeb Hensarling (R-Texas) said the CFPB’s actions “invite fraud on a massive scale” and called upon Attorney General Loretta Lynch to suspend the distribution of settlement checks until the eligibility of the recipients are confirmed in writing.

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