penatlies

NJ-Based Bank Must Pay $33M To Settle Discriminatory Lending Charges

NJ-Based Bank Must Pay $33M To Settle Discriminatory Lending Charges

“Redlining” is the act of denying services, either directly or through selectively raising prices, to residents of a certain area based on race or ethnicity. Federal law prohibits creditors from this type of discrimination, but New Jersey-based Hudson City Savings Bank is now on the hook for a total of nearly $33 million for allegedly providing unequal access to credit in parts of four states. [More]