Lakeland Bank engaged in 'redlining' to avoid providing loans to people in Black and Hispanic communities, according to federal authorities.
A New Jersey-based bank agreed to pay $13 million to settle allegations it engaged in “redlining” — a form of housing discrimination in which a lender intentionally deprives Blacks and Hispanics of loans.
Lakeland’s attorneys — the Washington, D.C.-based firm Luse Gorman — didn’t immediately respond to a request for comment. “If you lived in a Black or Hispanic neighborhood you likely had little opportunity to apply for let alone obtain a loan from Lakeland bank,” Sellinger said. “This form of discrimination has been barred by law for decades but still exits today. There were qualified buyers — Lakeland just didn’t service them.”
“The avoidance went beyond brick and mortar locations” Sellinger said. “Lakeland unlawfully avoided serving neighborhoods that were Black or Hispanic while serving nearby white majority suburbs.”
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