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Navy Federal Sued for Alleged Discrimination

Navy Federal Sued for Alleged Discrimination

by Starling Insights

Starling Insights Editorial Board

Dec 26, 2023

Observations

USA Culture & Consequences Culture & Misconduct The Costs of Misconduct Diversity & Inclusion

A class-action lawsuit has been filed against US-based Navy Federal Credit Union alleging discrimination against Black and Latino mortgage applicants. The lawsuit follows a CNN report revealing a significant gap in acceptance rates for Black (48.5%), Latino (55.8%), and White (77.1%) mortgage applicants in 2022.

“The statistics in the article do not appear to have considered several key credit criteria that all financial institutions, including Navy Federal, rely on to assess mortgage applications,” the credit union said in a statement, contesting the report.

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