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CFPB, DOJ obtain largest redlining settlement in history
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Case Law, Consumer Protection
Friday, September 25, 2015
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The Consumer Financial Protection Bureau and the Department of Justice announced a joint action against Hudson City Savings Bank for alleged discriminatory redlining practices that denied residents in majority-Black-and-Hispanic neighborhoods fair access to mortgage loans. The penalties would be the highest levied in such an enforcement, and would require the bank to open branches in majority-Black-and-Hispanic neighborhoods. Read on for the details.
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