middletown-based liberty bank — accused by fair housing advocates of discriminating against home loan borrowers in African American and Latinx neighborhoods — is settling those claims by.
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As an example, the suit said that only 3.34 percent of Liberty Bank’s total mortgage originations including refinancing from 2010 to 2016 were to Latino and african-american applicants. liberty bank denied all allegations of wrongdoing, but said $10 million will be added to expand its Good Neighbor Mortgage Loan Program.
The connecticut fair housing center and the National Consumer Law Center on Thursday filed a lawsuit against Middletown-based Liberty Bank, Liberty Bank settles loan ‘redlining’ suit. 0 Comments.
A Southington branch was one of several Liberty Bank offices tested as part of a federal lawsuit alleging widespread lending discrimination and redlining, an attorney for the plaintiffs, the.
Associated Bank’s $1.5M home loan pledge connected to $200M redlining settlement.. with Associated Bank on February 26 for home loans, which also fit the settlement agreement that the financial institution was obligated to pay for its discriminatory housing policies.. three years after.
· Federal redlining enforcement has waned in recent years, but redlining risk has not disappeared. On October 4, two consumer advocacy groups, the National Fair Housing Alliance and the Connecticut Fair Housing Center, filed a law suit accusing a Connecticut-based bank of unlawful discrimination against minority homebuyers.
Under the terms of the settlement, Liberty Bank will open a loan production office in a majority-minority census tract in the Hartford area; add $10 million to its "Good Neighbor" loan program.
U.S. Department of Justice reached agreement with First Merchants Bank to settle the redlining lawsuit that the DOJ filed against the bank on June 13, 2019 simultaneously with a settlement.. BLF Housing Loan – Home comes first.
Liberty Bank has agreed to infuse $10 million into a mortgage program for low- and moderate-income communities as part of a settlement to resolve claims in a federal lawsuit alleging it engaged in.
As is the case with all redlining matters. peers originated residential mortgage loans in majority-black census tracts at more than two and a half times the rate of the bank. Summary of Settlement.