June 21, 2024
Mortgage

Horsford, Cortez Masto call for investigation into credit union rejecting Black, Hispanic mortgage applicants


Nevada Congressional members are calling for an investigation into Navy Federal Credit Union, the nation’s largest credit union for service members, after reports found it rejected nearly half of its Black and Hispanic mortgage applications, the Nevada Current reported. 

The Congressional Black Caucus, which is chaired by U.S. Rep. Steven Horsford, sent a letter to the credit union Friday asking why it “approved a higher percentage of applications from white borrowers making less than $62,000 a year than it did of Black borrowers making $140,000 or more.” 

U.S. Sen. Catherine Cortez Masto joined several Democratic Senate colleagues on Thursday in asking the U.S. Department of Housing and Urban Development and the Consumer Financial Protection Bureau to investigate the racial gaps between white, Black and Hispanic applicants.  



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