Lender with Lbk ties settles racial discrimination accusations - KCBD NewsChannel 11 Lubbock

Lender with Lubbock ties settles racial discrimination accusations

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By James Clark - email

LUBBOCK, TX (KCBD) - A lending company with Lubbock ties agrees to pay $2 million to resolve allegations of discrimination against African-American borrowers between 2006 and 2009.  A U.S. Department of Justice news release on Wednesday says PrimeLending agreed to pay the settlement "to the victims of discrimination." 

The news release says PrimeLending's owner is "PlainsCapital Bank of Lubbock, Texas."  While PlainsCapital did start in Lubbock in 1987 and still has a strong presence in Lubbock, the company's headquarters moved to Dallas in the year 2000. 

The federal news release also says "African-American borrowers nationwide were charged higher prices on retail loans made through PrimeLending's branch offices."  It also says, "... the settlement requires PrimeLending to have in place loan pricing policies, monitoring and employee training that ensure discrimination does not occur in the future."

PrimeLending is a national mortgage lender with 168 offices in 32 states  (CLICK HERE) to see the USDOJ news release. 

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