A foreclosure sign is posted in front of townhomes in Los Angeles in a file photo. Kevork Djansezian/Getty Images
The U.S. Department of Justice (DOJ) announced Tuesday that it reached a $68 million settlement with a Houston-based land developer and lender accused of running a predatory scheme targeting Hispanics.
The DOJ alleged that Colony Ridge Land LLC’s targeting of Hispanics violated the Equal Credit Opportunity and the Fair Housing acts. The company’s alleged deceptive lending practices exploited the language barrier and created a cycle of foreclosures, according to a news release.
