DOJ Settles Redlining Lawsuit Against First Merchants Bank

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In fact, the city’s poorest ZIP code, 46218, has just one FDIC-insured institution-PNC Bank-for its 26,757 residents. In a lawsuit filed this month, the U.S. Department of Justice accused Muncie-based.

Muncie-based First merchants corp. (nasdaq: FRME) has reached a settlement. Justice regarding issues related to the Equal Credit Opportunity Act and Fair Housing Act. The DOJ says the bank had been.

 · A publicly traded bank with branches across upstate New York is acquiring Merchants Bank, Vermont’s largest and only remaining state-based bank. The boards of directors for Community Bank.

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to settle the redlining lawsuit that the DOJ filed against the bank in January 2017, only a week before President Trump’s inauguration. The agreement represents the first fair lending settlement.

The Department of Justice. a complaint and a settlement agreement resolving allegations against First Merchants Bank on Thursday. In the complaint, DOJ claimed that First Merchants Bank practiced.

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.

Mr. Wells said the lawsuit and settlement came about because the Fed was required to ask the Justice Department to investigate after the Fed’s exam. He said the central bank had already asked First ..

The U.S. Justice Department has accused Chaska-based KleinBank of redlining, the illegal practice. to fairness and equal opportunity." The lawsuit is the first of its kind involving a.

Although many DOJ fair lending investigations arise out of referrals from a prudential regulator or the Consumer Financial Protection Bureau,[4] the First Merchants. s DOJ settled a redlining.

INDIANAPOLIS – The U.S. Department of Justice and the U.S. Attorney’s Office for the Southern District of Indiana filed a complaint and proposed settlement agreement in an Indiana federal court, alleging that a bank engaged in discriminatory lending practices and requiring it to invest approximately $1.62 million in a loan subsidy fund to.

First Merchants Corporation to Report Second Quarter 2019 Financial Results, Host Conference Call and Webcast – July 5 at 5:38 PM: First Merchants Bank settles with DOJ for redlining allegations – June 14 at 5:59 PM: First merchants announces settlement agreement, next steps to finalize acquisition of MBT Financial.