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Assistant Attorney General Kristen Clarke said combating redlining “is one of the most important strategies for ensuring equal economic opportunity today.” Ameris Bank will invest $7.5 million ...
Redlining is a discriminatory practice in which financial services are withheld from neighborhoods that have significant numbers of racial and ethnic minorities. [2] Redlining has been most prominent in the United States, and has mostly been directed against African Americans, as well as Mexican Americans in the Southwest. [3]
NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the The post Anti-discriminatory bank law getting update to address harm of redlining ...
The bank had been accused of steering clear of higher crime neighborhoods and favoring whites in granting loans and mortgages, finding that, of the approximately 1,900 mortgages made in 2014, only 25 went to black applicants. The banks' executives denied bias, and the settlement came with adjustments to the banks' business practices.
The Passaic County-based bank avoided opening branches or providing loans to majority Black and Latino neighborhoods, the Justice Department said. Lakeland Bank agrees to $13M settlement over ...
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
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Those suffering housing discrimination and people living below the poverty threshold often rent small or low-quality housing. Lead paint left over from past years and animal pests, such as rats, can be found in older housing, resulting in serious health consequences. Lead can lead to lowered intelligence in children. [71]