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  4. City National Bank reaches settlement of redlining allegations with Justice Dept
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City National Bank reaches settlement of redlining allegations with Justice Dept

By Hannah Lang (Reuters) - City National Bank has agreed to pay $31 million to settle lending discrimination allegations with the U.S. Justice Department, the agency said on...
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City National Bank reaches settlement of redlining allegations with Justice Dept © Reuters. FILE PHOTO: A City National Bank office is seen in downtown Los Angeles, California January 22, 2015. REUTERS/Lucy Nicholson/File Photo

By Hannah Lang

(Reuters) - City National Bank has agreed to pay $31 million to settle lending discrimination allegations with the U.S. Justice Department, the agency said on Thursday.

A complaint filed in federal court on Thursday alleged that from 2017 through at least 2020, the Los Angeles-based bank received fewer applications in majority-Black and Hispanic neighborhoods in Los Angeles County compared with other banks, and in the past 20 years opened only one branch in a majority-Black and Hispanic neighborhood.

In a statement, City National Bank said it disagreed with the allegations, but was supportive of the Justice Department's efforts to "ensure equal access to credit for all consumers, regardless of race."

As part of the settlement, City National Bank has agreed to invest $29.5 million in a loan subsidy fund for residents of majority-Black and Hispanic neighborhoods in Los Angeles County and to open a bank branch in one of those neighborhoods.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
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SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
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Cập nhật 01-05-2024 10:45:19
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$2,285.72 -47.5 -2.04%
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
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Dầu hỏa 2-K20.68021.090
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EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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