Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Reno Gets Tough With Shawmut


In Business This Week

RENO GETS TOUGH WITH SHAWMUT

Attorney General Janet Reno, who has called lending discrimination "one of the most important civil rights issues facing this country," has bagged her first quarry. On Dec. 13, the Justice Dept. announced that Shawmut Mortgage had agreed to settle charges that it illegally denied mortgages to qualified minority applicants. While Shawmut neither admitted nor denied the charges, the Boston company agreed to pay at least $960,000 to blacks and Hispanics who were denied loans between 1990 and 1992. Government sources indicate that Justice is pursuing similar investigations against roughly half-a-dozen other banks.EDITED BY KEITH H. HAMMONDS


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus