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The Boston Globe

Business

ACLU sues Morgan Stanley over subprime loans

NEW YORK — The American Civil Liberties Union accused Morgan Stanley Monday of violating civil rights laws by encouraging a lender to push more expensive and risky mortgages on black neighborhoods in Detroit.

The ACLU and others filed the lawsuit on behalf of five home­owners who took out loans from New Century Mortgage Corp., a subprime lender that has since collapsed. Morgan Stanley said the allegations were ‘‘completely without merit.’’

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