Navy Federal Credit Union Disputes Alarming Report That Shows It Denied Most of Its Black Mortgage A
Navy Federal Credit Union is facing backlash after a blockbuster report shows Black mortgage applicants have been significantly denied compared to their counterparts.
The nation’s largest federal credit union, headquartered in Vienna, Virginia, serves as a bank for members of the armed forces, including veterans and their families. According to an analysis by CNN, Navy Federal approved over 75 percent of conventional home mortgage loan applications for white borrowers in 2022. However, for Black borrowers, the approval rate was about 48 percent.
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