Connecticut Bank Settles Race Bias In Lending Lawsuit

AP
March 04, 2019 - 3:57 pm
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MIDDLETOWN, Conn. (AP) — A Connecticut bank that fair housing advocates alleged in a lawsuit discriminated against minority home loan borrowers has settled the case.

The Hartford Courant reports that under the agreement announced Monday, Liberty Bank will boost by $10 million a mortgage program for low- and moderate-income communities and set aside $300,000 to promote home ownership in neighborhoods where it's been difficult to get a mortgage.

The Connecticut Fair Housing Center and the National Consumer Law Center sued last fall, alleging the Middletown-based bank violated the Fair Housing Act.

Under the agreement, the bank did not admit wrongdoing.

President and CEO Chandler Howard in a statement said Liberty is "deeply committed to helping people achieve their dream of home ownership."

Liberty Bank, founded in 1825, is Connecticut's oldest bank and has 58 branches.