Citigroup may face fair lending penalty

Reuters reports that the Office of the Comptroller of the Currency is considering sanctions against Citigroup for denying minority customers the kinds of mortgage discounts that the bank offered to many other borrowers. Citigroup, while performing a review to ensure it adhered to fair lending standards, reportedly found that some minority borrowers were not getting the discounts they were due under a program that gives a break on mortgage rates to customers who have large deposits or wealth in the hands of the bank. According to the article, Citigroup flagged the "relationship pricing" problems last year to the OCC.

The article is here.

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