The Justice Department and the state of North Carolina reached a $13.5 million settlement with a bank to resolve allegations of redlining
The Justice Department and the State of North Carolina reached a $13.5 million settlement with the First National Bank of Pennsylvania (FNB) to resolve allegations that it engaged in redlining in predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem.
“Lending discrimination violates the law and harms communities and entire families for generations,” Attorney General Merrick Garland said in a Justice Department release. “Today’s settlement will invest $13.5 million in expanding access to credit services for Black and Hispanic neighborhoods in Charlotte and Winston-Salem that for too long have been denied to them. With this settlement, the Justice Department’s Combating Redlining Initiative has now secured over $122 million in relief for communities across the country. But we recognize how much work we have left to do, and we are not letting up in our efforts to combat discrimination in lending wherever it occurs.”