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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 ...
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 ...
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]
The Justice Department has secured a $9 million settlement with Ameris Bank over allegations that it avoided underwriting mortgages in predominately Black and Latino communities in Jacksonville ...
Mortgage discrimination or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion.
The concept of digital redlining is an extension of the practice of redlining in housing discrimination, [2] [3] a historical legal practice in the United States and Canada dating back to the 1930s where red lines were drawn on maps to indicate poor and primarily black neighborhoods that were deemed unsuitable for loans or further development ...
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The practice was fought first through passage of the Fair Housing Act of 1968 (which prevents redlining when the criteria for redlining are based on race, religion, gender, familial status, disability, or ethnic origin), and later through the Community Reinvestment Act of 1977, which requires banks to apply the same lending criteria in all ...