Tuesday, June 30, 2009

NY STATE MORTGAGE PROBE ALLOWED

http://money.cnn.com/2009/06/29/news/economy/mortgage_discrimination_probe.reut/index.htm

The US Supreme Court has allowed the state of NY to proceed with its probing of unfair lending and higher interest rates towards minorities. While the Supreme Court is not allowing NY State to issue sopenas it is allowing it to "bring judicial enforcement actions." The Supreme Court has reversed an earlier ruling that claimed Federal Regulations already investigate minority lending practices.

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