A pair of banks based in Ohio must begin increasing mortgage lending in minority neighborhoods in certain areas of Ohio and Indiana as part of a settlement with theDepartment of Justice, which accused the banks of “redlining.”
The DOJ defines redlining as a “discriminatory practice by banks or other financial institutions of denying or avoiding providing credit services to consumers because of the racial demographics of the neighborhood in which the consumer lives.”
In this case, the DOJ accused Union Savings Bank and Guardian Savings Bank, which are based in Cincinnati and share common ownership and management, of redlining “predominantly African-American” neighborhoods in Cincinnati; Columbus, Ohio; Dayton, Ohio; and Indianapolis.
The complaint alleged that from at least 2010 through 2014, the banks extended credit to the residents of predominantly white neighborhoods to a “significantly greater extent” than they extended credit to majority African-American neighborhoods in the same cities.
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