Settlement with Liberty Bank in lawsuit alleging racial bias

 

Source: Kenneth Gosselin, Hartford Courant

Under the agreement, Liberty Bank will expand its Good Neighbor Mortgage Loan Program, making an additional $10 million available to borrowers at below-market mortgage rates. In addition, it will set aside $300,000 in subsidies to promote home ownership and access to credit in neighborhoods where it has been difficult to secure a mortgage

The agreement comes after the Connecticut Fair Housing Center and the National Consumer Law Center last fall filed a lawsuit alleging the bank violated the Fair Housing Act by “redlining” — denying to provide or avoiding giving credit to borrowers because of the racial or ethnic demographics of the neighborhoods.

 

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