General World News

The opportunity cost of modern-day redlining

Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. Last October, Ameris Bank had to pay $9 million to settle a redlining case. More recently, Patriot Bank paid $1.9 million, and First National Bank was hit with a $13.5 million settlement to resolve claims it practiced redlining in North Carolina.

When mortgage professionals hear the word “redlining,” they often think of the institutionalized discrimination that was particularly details ⇒

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