JPMorgan to pay ₹375cr for racial bias against 53,000 people
The US' biggest bank JPMorgan Chase has agreed to pay $55 million (around ₹375 crore) to settle a US Justice Department lawsuit accusing it of discriminating against minority borrowers. The settlement is related to a complaint alleging that the bank charged at least 53,000 African-American and Hispanic borrowers higher rates than white borrowers from 2006 to 2009.