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US v. SunTrust Mortgage (Civil Case Settlement)


Release Date
Case Name
Summary
4/12/2013 US v. SunTrust Mortgage

The Civil Rights Division of the Department of Justice and the settlement administrator (Rust Consulting) began on April 10, 2013, to contact borrowers who are eligible to receive damage payments from the $21 million fund in its discrimination/fair lending settlement with SunTrust Mortgage, United States v. SunTrust Mortgage, Inc. (E.D. Va.), which was announced last May and approved by the Court in September. Attached to this e-mail are models of the two versions of letters that were mailed to over 20,000 victims nationwide of race and national origin discrimination. Each letter will include a minimum amount of money that the recipient can expect to recover if they choose to participate in the settlement. The amounts specified in the letters range from $200 to nearly $2,000, depending on the Civil Rights Division’s estimate of damages and allocation of available settlement funds. The letter the victim will receive will depend on whether the victim is the only borrower named on their loan, or whether there are co-borrowers. These letters are nearly identical, except that the “multiple borrower” letter contains additional requirements for participation in the settlement. If you have questions about the settlement, please call 1-866-459-3633 or email info@stmortgagesettlement.com. The settlement administrator and the United States cannot offer advice on whether you should participate in the settlement.

 

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