Bank Agrees To $3M Fund To Resolve Redlining Allegations In Mortgage Lending

(June 1, 2023, 12:37 PM EDT) -- PHILADELPHIA — The United States and a mortgage lender on May 31 filed a proposed consent order in a Pennsylvania federal court to resolve allegations that the lender engaged in a pattern of lending discrimination by redlining majority-Black and Hispanic neighborhoods in the Philadelphia area, with the lender agreeing to invest close to $3 million in a loan subsidy fund....