Court Approves $31 Million Redlining Settlement with National Bank

Recently, the U.S. District Court for the Central District of California gave final approval of the consent order proposed by the DOJ in a redlining suit against a large national bank.

The bank was accused of providing inadequate service to majority-Black and Hispanic neighborhoods in Los Angeles County and discouraging borrowers in those neighborhoods from obtaining mortgage loans.  Although the bank denies any wrongdoing, it has agreed to cooperate to avoid prolonged litigation.  

WBK has previously covered the DOJ’s proposal of this consent order, which you can read here.