Source: United States Department of Justice News
The Justice Department and the Office of the Comptroller of the Currency (OCC) announced coordinated actions to address allegations of lending discrimination by Cadence Bank, N.A. The Department’s Civil Rights Division and the U.S. Attorney’s Office for the Northern District of Georgia announced an agreement to resolve allegations that Cadence Bank, which is headquartered in Atlanta, Georgia, engaged in lending discrimination by “redlining” predominantly Black and Hispanic neighborhoods in the Houston, Texas, metro area. Under the department’s settlement, Cadence will invest over $5.5 million to increase credit opportunities for residents of those neighborhoods. “Redlining” is an illegal practice in which lenders avoid providing services to individuals living in communities of color because of the race, color, or national origin of the people who live in those communities.