Navy Federal hit with lawsuits over alleged discrimination

The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future. Navy Federal Credit Union is facing two lawsuits and lawmakers are demanding an investigation into its lending practices in the wake of a CNN analysis that concluded the institution denied more than 50 percent of Black mortgage applicants in 2022. CNN’s analysis of Home Mortgage Disclosure Act (HMDA) data found Navy Federal approved 77.1 percent of White applicants, and 48.5 percent of Black…