Hudson City Savings Bank Hit with Redlining Charge

The CFPB with the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank for discriminatory redlining practices that denied residents in majority-Black-and-Hispanic neighborhoods fair access to mortgage loans in neighborhoods in New York, New Jersey, Connecticut, and Pennsylvania. The proposed consent order, if upheld, will mandate $25 million in direct loan subsidies, $2.25 million in community programs and outreach, and a $5.5 million penalty. [9/25/15]