CHARLOTTE, N.C. ( QUEEN CITY NEWS ) — A $13 million-plus settlement has been reached with a bank that has a presence in the Queen City over a home loans ‘redlining’ discrimination case, the North Carolina Attorney General’s Office announced on Monday.
First National Bank agreed to pay $13.5 million over allegations the bank engaged in racially discriminatory acts while providing home mortgage loans to residents in Charlotte and Winston-Salem.
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“When banks discriminate, it means hardworking people can’t buy a house, start a business, or invest in their futures,” Attorney General Josh Stein said. “I want every person who calls North Carolina home to have a fair shot, and I’m pleased that this settlement will create better borrowing opportunities for all North Carolinians.”