The FDIC assessed the largest of the civil money penalties, $151,000, against Bank of Lake Mills. Each restitution order provides that the bank, but not the institution-affiliated parties, must.
Last month, the United States Department of Justice ("DOJ" or the "Department") settled redlining claims against First Merchants Bank ("First.
Last month, the United States Department of Justice ("DOJ" or the "Department") settled redlining claims against First Merchants Bank ("First Merchants" or the "Bank"), an Indiana-based bank regulated by the Federal Deposit Insurance Corporation ("FDIC"). The First Merchants settlement is the first redlining matter initiated 1 and settled under the Trump administration, and.
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Muncie-based First Merchants Bank has settled a federal lawsuit, following U.S. Department of Justice allegations that the bank engaged in lending discrimination by redlining predominantly African.
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Last month, in the first redlining matter initiated and settled under the Trump Administration, the United States Department of Justice settled redlining claims against First Merchants Bank, an Indiana-based bank regulated by the Federal Deposit Insurance Corporation ("FDIC"). The First Merchants settlement contains useful insights for institutions seeking to evaluate redlining risk.
— The Department of Justice (DOJ) and the U.S. Attorney’s Office for the Southern District of Indiana filed a complaint and a settlement agreement resolving allegations against First Merchants.
According to the lawsuit, these practices breached FirstMerit’s agreement with its customers as well as constituted fraud by the bank. FirstMerit, who claims its mission is to “improve and preserve.
The U.S. Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June 13, 2019 simultaneously.