Bank Agrees To Remedial Plan Over Redlining Actions Against Minority Borrowers

Mealey's (February 10, 2023, 12:55 PM EST) -- LOS ANGELES — A federal judge in California issued a consent order in a government lawsuit alleging that a national bank violated federal law by engaging in redlining in its offering of mortgage loans to Black and Latino borrowers in the Los Angeles metropolitan area, enjoining the bank from future engagement in the practice and ordering the bank to undertake several remedial steps to increase its loan activities to minority borrowers in Los Angeles....