CFPB, DOJ Settle Largest Redlining Case to Date

The CFPB and the Department of Justice have entered into the largest redlining settlement in history ($32.75 million) against Hudson City Savings Bank. The joint agency action alleges that the bank provided unequal access to credit to minority neighborhoods in New York, New Jersey, Connecticut and Pennsylvania by intentionally locating branch offices and mortgage originators outside of minority neighborhoods and limiting its marketing to non-minority areas. [9/25/15]