The Justice Department has filed a federal lawsuit against Colony Ridge Development, LLC, and its subsidiaries, accusing them of predatory lending practices targeting members of the Houston area's Hispanic community. The lawsuit alleges that the developers exploited language barriers and sold land in disrepair, and seeks to stop the defendants from engaging in any further predatory lending practices and to provide restitution to affected borrowers. The Justice Department is continuing to investigate the matter and is encouraging anyone with information about the alleged predatory lending practices to contact the department.
