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As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.
January 17 -
The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.
December 18 -
A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.
December 14 -
Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.
April 24 -
The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.
April 8 -
The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.
February 22 -
The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.
January 21 -
The Federal Housing Finance Agency found several comments that could lead to fair lending concerns in the “neighborhood description” section of reports.
December 14 -
In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.
August 2 -
With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.
March 15