'Redlining is racist, pure and simple. It has no place in this country,” the US attorney for the District of New Jersey Philip Sellinger said.
Assistant Attorney General Kristen Clarke said the Civil Rights Division’s settlement with Lakeland Bank will create a $12 million subsidy fund and the bank will be required to offer equal opportunities to obtain credit regardless of where a person lives. “The agreement resolves allegations that Lakeland redlined predominantly Black and Hispanic neighborhoods in the Newark, New Jersey, area,” Clarke said at a news conference on Wednesday.
” Redlining, the practice of denying an applicant a loan for housing in a certain neighborhood even though they may be otherwise eligible for a loan, has become a focus for the Justice Department, which has reached similar settlements with lenders in Philadelphia, Houston and Memphis. CNN has reached out to Lakeland Bank for comment.
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