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Banks settle with DOJ over ‘redlining’ practices
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Wednesday, January 11, 2017
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Two Ohio-based banks recently reached a $9 million settlement with the Department of Justice over allegations of “redlining” practices, which allegedly violated the Fair Housing Act and Equal Credit Opportunity Act.
Both banks will open new branches in previously underserved areas as part of their multiple new requirements for remedying the allegations outlined in a recent complaint filed with the District Court for the Southern District of Ohio.
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