Market Watch, December 13, 2022, ‘This is classic redlining’: A nonprofit ends its relationship with KeyBank over allegations of failing Black home buyers
The Justice Department declined to comment on allegations made by the NCRC. The Consumer Financial Protection Bureau, which enforces the Equal Credit Opportunity Act to curtail discrimination in credit transactions and has taken action against redlining, also declined to comment on the allegations.
Not only did NCRC think that, several years later, KeyBank had not met the terms of the agreement, but NCRC also believed that KeyBank had made an announcement in 2021 about expanding the agreement that was “actually a reduction in their lending activities,” Van Tol said.
