Liberty Bank settles loan ‘redlining’ suit

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A federal judge has approved a $5 million class action settlement between a two-year college and thousands of primarily African-American students saddled with loans in return. to predatory lending.

The connecticut fair housing center and the National Consumer Law Center on Thursday filed a lawsuit against Middletown-based Liberty Bank, Liberty Bank settles loan ‘redlining’ suit. 0 comments.

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The approximately $200 million in mortgage loans that Associated Bank (ASB) is required to provide to borrowers in minority neighborhoods as part of a settlement with the U.S. Department of.

Federal redlining enforcement has waned in recent years, but redlining risk has not disappeared. On October 4, two consumer advocacy groups, the national fair housing alliance and the Connecticut Fair Housing Center, filed a law suit accusing a Connecticut-based bank of unlawful discrimination against minority homebuyers.

A Southington branch was one of several Liberty Bank offices tested as part of a federal lawsuit alleging widespread lending discrimination and redlining, an attorney for the plaintiffs, the.

Liberty Bank has agreed to infuse $10 million into a mortgage program for low- and moderate-income communities as part of a settlement to resolve claims in a federal lawsuit alleging it engaged in.

Liberty free-thinking home loans. Buying a home is a big deal, no matter where you are on the property ladder. Whether on the lookout for your first home, your next home, or an investment property, we can help you find home loan solutions that work for you.

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In May 1994, the Fed approved the merger, but required Bank of America to make $180 million in loans in response to allegations that the bank had engaged in redlining and refused to loan money to.

WASHINGTON – Hudson City Savings. As part of the settlement, Hudson City must pay $25 million in direct loan subsidies to borrowers in affected communities, plus $2.25 million for community.

Nonprofits File Federal Housing Lawsuit Against Liberty Bank.. a federal lawsuit last week accusing the bank of redlining.. to meet with a Liberty Bank loan officer in May 2017 at the 55.

Under the terms of the settlement, Liberty Bank will open a loan production office in a majority-minority census tract in the Hartford area; add $10 million to its "Good Neighbor" loan program.

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