HousingWire, April 9, 2024, The Opportunity Cost Of Modern-Day Redlining
Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. Last October, Ameris Bank had to pay $9 million to settle a redlining case. More recently, Patriot Bank paid $1.9 million, and First National Bank was hit with a $13.5 million settlement to resolve claims it practiced redlining in North Carolina.
