News

October 16, 2012

ACLU sues Morgan Stanley for racial bias over mortgages

NEW YORK (Reuters) - The American Civil Liberties Union sued Morgan Stanley on Monday, accusing the investment bank of racial discrimination in packaging risky subprime mortgage loans into securities.

The lawsuit is the first to directly make allegations against an investment bank, rather than a lender, of violating federal civil rights laws, the group said at a news conference.

Read the Full Story Here: Chicago Tribune