The plaintiffs in the class action suit filed against Navy Federal Credit Union accusing the lender of discriminating against people of color in its home lending practices submitted an amended complaint to the court. Attorney Ben Crump of Ben Crump Law PLLC and Civil Rights Activist Al Sharpton hosted a press conference about the case in New York on Feb. 22.

The event was held at the National Action Network’s (NAN) House of Justice, to highlight the importance of the case, Sharpton said. He said NAN would stand with Crump and offered “we will do whatever is necessary” to address the harm Navy Federal is accused of causing, including picket lines if requested.

Navy Federal’s lending practices came under scrutiny after an investigative report by CNN revealed the credit union rejected more than half of its Black applicants for mortgage loans, compared with the 75 percent approval rate amongst white applicants. According to Navy Federal’s own data, it approved a higher percentage of applications from white borrowers making less than $62,000 a year than it did from Black borrowers making $140,000 or more per year.

In the amended complaint, the class also referenced a third-party analysis of the data, and even when controlled for other variables, racial disparities were statistically significant.

Since the case was filed, members of Congress from both houses have requested hearings and investigations into Navy Federal, voicing concern on how its alleged lending practices have affected the wealth disparity across the country and what solutions can be offered.

“The complaint shows that Navy Federal must have known about the discrimination programs,” Crump said at the press conference. “Discrimination in lending is a well-known issue, and lenders like Navy Federal are required by the federal government to self-evaluate their numbers every year. … The statistics showing this discrimination came from Navy Federal’s own data.”

Many of the impacted borrowers are veterans, both Crump and Sharpton pointed out, and most of this data was gathered during the pandemic where interest rates and terms were more favorable to borrowers, furthering the concern with Navy Federal’s lending practices. Even those non-white borrowers who were approved often received less favorable terms and more expensive mortgages than their white counterparts.

“Navy Federal claims that it champions community, and that it is dedicated to embracing and celebrating diversity and inclusion in all the communities it serves,” Crump said. “Of course, actions speak louder than words, and Navy Federal’s claims of community devotion ring hollow in the face of its systematic discrimination against non-white borrowers.

“Navy Federal may drape itself in the flag with the American promise of equal opportunity for all. However, its actions show base contempt for those it purportedly serves.”