[Updated at 1:10 p.m.: In the court documents describing the agreement, Sterling and his wife, Rochelle, deny any wrongdoing. They describe the agreement as “a compromise of disputed claims” and not an admission of any liability.]
Under the agreement, Sterling and his wife would pay $2.625 million to a fund for people who were harmed by their discriminatory practices, officials said. They would also pay a $100,000 penalty to the government.
“The magnitude of this settlement demonstrates our commitment to vigorously prosecute violations of the Fair Housing Act,” Thomas E. Perez, head of the Justice Department’s Civil Rights Division, said in a statement. “With tight mortgage credit and rising foreclosures, it is more important than ever that minorities not face discrimination when renting apartments.”