Post by account_disabled on Mar 6, 2024 16:51:48 GMT 10
For years, a subsidiary of SunTrust, the th largest commercial bank in the United States, has made loans, with the usual courtesy, to qualified (with good credit) black and Latino minority customers in the country. But SunTrust Mortgage Inc. was sued for an egregious practice: blacks and Latinos paid higher interest rates than whites. "This is discrimination with a smile," said US Department of Justice Assistant Attorney General Thomas Perez in a written statement, after the bank finally agreed this Thursday to pay $ million in a settlement to settle the lawsuit, the National Law Journal and Washington Times reported .
The bank charged a type of "racial surcharge", according to Thomaz Peres' definition. “If you were an African-American or Latino customer, you paid more for a loan than a white customer with the same credit qualifications paid, because of the color of your skin or your national origin,” he said.
Justice Department lawyers said the money will be used to compensate victims of discrimination in states and the District of Columbia. More than , black and Latino people were "overcharged" by the bank, according BTC Number Data to the Department of Justice, indicating that the deal was cheap for the bank. In two and a half years of investigations into the bank's operations, from to , around , documents and data were researched, most of them related to home financing, according to the publications.
If the fraud were not discovered, these customers, who have already been seriously harmed by the significant drop in the value of residential properties in the country, would pay a few thousand dollars more for their home loans. However, SunTrust promised to correct its failure and, according to the attorney general, implemented a new housing loan and financing policy, which ensures the absence of discrimination of any kind in current and future operations.
The total value negotiated with owners reached R$ thousand. Furthermore, in the cases analyzed on the last day of the joint effort, where residents did not own the land, an agreement was reached with the National Department of Transport Infrastructure (DNIT) for the resettlement of families in a new residence.
The farm staff's argument that tax planning with court orders could cause a drop in ICMS collection is laughable, because when carrying out serious planning, companies in difficulties return to production and generate more taxes throughout the entire production chain to which they belong and healthy companies would become more competitive and efficient, expanding production and business.
In Rio Grande do Sul and Paraná, states in which the Finance departments have already been accepting compensation for court orders, there is no news of tax collection chaos. It is worth highlighting the growing importance of tax planning in a company that, guiding its activities and business with skill and intelligence, in a lawful manner, aims to provide satisfactory tax savings, avoiding, whenever possible, the most onerous procedures from a tax and financial point of view.
The bank charged a type of "racial surcharge", according to Thomaz Peres' definition. “If you were an African-American or Latino customer, you paid more for a loan than a white customer with the same credit qualifications paid, because of the color of your skin or your national origin,” he said.
Justice Department lawyers said the money will be used to compensate victims of discrimination in states and the District of Columbia. More than , black and Latino people were "overcharged" by the bank, according BTC Number Data to the Department of Justice, indicating that the deal was cheap for the bank. In two and a half years of investigations into the bank's operations, from to , around , documents and data were researched, most of them related to home financing, according to the publications.
If the fraud were not discovered, these customers, who have already been seriously harmed by the significant drop in the value of residential properties in the country, would pay a few thousand dollars more for their home loans. However, SunTrust promised to correct its failure and, according to the attorney general, implemented a new housing loan and financing policy, which ensures the absence of discrimination of any kind in current and future operations.
The total value negotiated with owners reached R$ thousand. Furthermore, in the cases analyzed on the last day of the joint effort, where residents did not own the land, an agreement was reached with the National Department of Transport Infrastructure (DNIT) for the resettlement of families in a new residence.
The farm staff's argument that tax planning with court orders could cause a drop in ICMS collection is laughable, because when carrying out serious planning, companies in difficulties return to production and generate more taxes throughout the entire production chain to which they belong and healthy companies would become more competitive and efficient, expanding production and business.
In Rio Grande do Sul and Paraná, states in which the Finance departments have already been accepting compensation for court orders, there is no news of tax collection chaos. It is worth highlighting the growing importance of tax planning in a company that, guiding its activities and business with skill and intelligence, in a lawful manner, aims to provide satisfactory tax savings, avoiding, whenever possible, the most onerous procedures from a tax and financial point of view.