Nation's third biggest lender casts itself as a victim of politics, noting Consumer Financial Protection Bureau launched its investigation the day after Biden Administration took office
Citadel Federal Credit Union 'respectfully disagrees' with allegations, agrees to invest $6.5M and open 3 new branches in predominantly Black and Hispanic neighborhoods in Philadelphia
FNB's 2017 acquisition of Yadkin Bank for $1.8B expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities
Government alleges competitors in the community bank's peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020
Access to safe credit building is limited in Black neighborhoods, Zillow reported, highlighting lingering effects of redlining that keep those households renting instead of owning a home
In announcing the $9M settlement with the Florida lender, the DOJ says it 'currently has over 2 dozen active investigations into redlining, spanning neighborhoods across the country'