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US settles credit discrimination suit against bank
WASHINGTON (AP) -- The federal government and GE Capital Retail Bank have reached a $169 million settlement in a lawsuit that accused the bank of discriminating against Hispanic credit card customers.
The Justice Department on Thursday called it the largest government credit-card discrimination settlement ever. The department joined the Consumer Financial Protection Bureau in announcing the settlement Thursday.
The settlement resolves allegations that the bank excluded Hispanic borrowers from two of its credit card debt-repayment programs.
The $169 million settlement includes payments to roughly 108,000 borrowers.
The bank, now known as Synchrony Bank, did not immediately return calls seeking comment.
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