CFPB, DOJ and OCC Take Action Against Trustmark National Bank for Deliberate Discrimination Against Black and Hispanic Families
The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank. The CFPB and DOJ allege that Trustmark discriminated against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area.
The CFPB and DOJ also allege that Trustmark discouraged consumers residing in or seeking credit for properties located in these neighborhoods from applying for credit.
Specifically, the joint complaint alleges that Trustmark:
- Avoided locating branches in majority-Black and Hispanic communities.
- Avoided assigning loan officers to majority-Black and Hispanic communities.
- Failed to monitor its fair lending compliance.
- Discouraged applicants and prospective applicants in majority-Black and Hispanic neighborhoods.
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