Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. Department of Justice (DOJ), the parties announced Wednesday. The agreement requires court approval.
Washington Trust, known as the oldest U.S. community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. However, the bank denies the allegations.
“This resolution will provide critical relief to impacted Black and Hispanic communities, enabling them to buy a home, keep their home or access the equity details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com