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Cortez Masto Joins Colleagues in Calling For Review of Navy Federal Credit Union Over Racial Disparities in Mortgage Lending

Letter

Date: Jan. 12, 2024
Location: Washington, D.C.
Issues: Economy and Fiscal Housing and Property

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"When denial rates for Black and Hispanic applicants at one institution appear to be drastically higher than the national average and higher than their rates for similarly situated white borrowers, it raises questions about whether its mortgage lending practices comply with federal fair housing and fair lending laws and regulations. Navy Federal's members have made countless sacrifices in their service to our country. We must do all we can to ensure illegal barriers are not placed on their path to homeownership."

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