Next, December 16, 2022, Report calls KeyBank worst major mortgage lender for Black homebuyers
The NCRS said it found “indications” of redlining practices in major cities including Philadelphia, Cleveland, Seattle, and others. Redlining means the bank approved mortgages for low-income White applicants at a higher rate than for high-income Black applicants. In 2016, KeyBank pursued regulatory approval for a deal to acquire First Niagara when executives committed to making the merged firm a leader in lending to marginalized borrowers.
