Today the NAACP Legal Defense Fund issued a letter requesting financial technology firm Upstart cooperate with requests for information by US Senate regarding potential discrimination against Historically Black College and University graduates in the firm’s loans. Recent reporting about potentially discriminatory outcomes flowing from the Upstart lending platform raises serious questions about Upstart’s compliance with civil rights laws, prompting a group of United States Senators led by Sen. Sherrod Brown (D-OH) to issue a request for information on February 13, 2020. In light of Upstart’s stated commitment to expanding access to credit and in order to ensure that such expansion does not disadvantage Black and African-American borrowers, the Legal Defense Fund urges Upstart to comply with the Senate’s request.
Read the full letter here.
