June 2, 2020         
RGENIX Shows Clinical Activity of Novel Agent RGX-202 in Patients with KRAS Mutant Colorectal Cancer in Phase 1 Trial   •   Wayfair to Present at the Oppenheimer 20th Annual Consumer Growth and E-Commerce Conference   •   CHPA Launches Rebranding Effort as Consumer Health Becomes More Vital to Public Health   •   The Executive Leadership Council Statement on Racial Injustice and Disparities Facing the Black Community   •   Trulieve Launches Limited Edition Cartridge, Partners with Florida-Based LGBTQ+ Organizations for Pride Month   •   LetsGetChecked Debuts FDA EUA-Authorized At-Home Coronavirus (COVID-19) Sure-track Test   •   Christopher & Banks Corporation Announces First Quarter 2020 Earnings Conference Call   •   Rain's newly released "My Big Sister Has Diabetes" is a heartwarming perspective of a young kid whose sister is dealing with a h   •   Auction of Alamo battle relics and Republic of Texas documents takes place June 6   •   Sheremetyevo Airport Prioritizes the Needs of Children   •   Essence Ventures Hires Caroline Wanga as New Chief Growth Officer   •   OCHIN Supports Movement for Racial Justice and Advancements in Health Equity   •   Cedar Fair to Participate June 2nd in the Goldman Sachs 2020 Travel and Leisure Conference, Audio Webcast Available   •   Jill Jaglowski Joins Financial Gravity Subsidiary Forta Financial as EVP - Advisor Experience   •   Caps and Gowns Go On at Home: iQ Academy Minnesota to Celebrate Class of 2020 with Online Commencement   •   Finalists Announced for 2020 Braille Challenge Finals   •   News Photographers Association of Canada Reacts to Press Freedom Violations   •   TherapeuticsMD Announces Appointment of James C. D’Arecca as Chief Financial Officer and Retirement of Daniel A. Cartwrigh   •   Maine Virtual Academy Celebrates 2020 Graduates in a COVID Era: School Will Provide Pre-Recorded Ceremonies So Families Can Acce   •   Statement from Ministers Carolyn Bennett, Daniel Vandal, Marc Miller and Steven Guilbeault on National Indigenous History Month
Bookmark and Share

Bank Settles With Feds Over Allegations Of Discrimination


WASHINGTON – The Justice Department announced that Midwest BankCentre will open a full-service branch in an African-American neighborhood and invest approximately $1.45 million in majority African-American areas of the St. Louis metropolitan area as part of a settlement to resolve allegations that they engaged in a pattern or practice of discrimination on the basis of race and color.

The settlement, which remains subject to court approval, was filed in conjunction with the department’s complaint in the U.S. District Court for the Eastern District of Missouri.

The complaint alleges that Midwest BankCentre violated the Fair Housing Act and the Equal Credit Opportunity Act, which prohibit financial institutions from discriminating on the basis of race and color in their mortgage lending practices. The lawsuit alleges that Midwest BankCentre has served the credit needs of the residents of predominantly white neighborhoods in the Missouri portion of the St. Louis metropolitan area to a significantly greater extent than they have served the credit needs of majority African-American neighborhoods.

Those neighborhoods are in and to the north and west of the city of St. Louis. They are easily recognized because t he Missouri portion of the St. Louis metropolitan area has long had highly-segregated residential housing patterns, especially for African-Americans.

“Lending discrimination deprives communities of access to credit and leaves the residents of minority neighborhoods vulnerable to predatory lenders. This type of discrimination is part of the web of intolerable practices that stripped vast amounts of wealth from communities of color in the last decade,” said Thomas E. Perez, Assistant Attorney General for the Justice Department’s Civil Rights Division. “We are pleased that Midwest BankCentre has begun working with community groups and agreed to invest and take creative steps to build credit in an area that has been long been neglected by the banking community.”

“Racial or other illegal discrimination has no place in our credit markets,” said Federal Reserve Board Governor Elizabeth A. Duke. “We are pleased that this settlement is designed to expand fair access to credit.”

Under the settlement, Midwest BankCentre will invest $900,000 in a special financing program to increase the amount of credit the bank extends to majority African-American areas in the Missouri portion of the St. Louis metropolitan area, spend $300,000 for consumer education and credit repair programs, and spend $250,000 for outreach to potential customers and promotion of their products and services. Midwest BankCentre will also open a full-service branch in a majority African-American area within the Missouri portion of the St. Louis metropolitan area and conduct fair lending training for its employees. The agreement also prohibits Midwest BankCentre from discriminating on the basis of race or color in any aspect of a residential real estate-related or credit transaction.

The lawsuit originated from information gathered by the Metropolitan St. Louis Equal Housing Opportunities Council and provided to the Department of Justice in 2009, as well as a 2010 referral by the Board of Governors of the Federal Reserve System to the Justice Department’s Civil Rights Division.



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News