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There is a very sound case for reparations ....
Hudson City Bancorp will pay nearly $33 million to settle civil charges alleging the New Jersey-based bank wrongfully discriminated against prospective black and Hispanic home buyers, in a case that marks the largest ever redlining settlement in history, the U.S. government said on Thursday.
The joint action by the U.S. Justice Department and the Consumer Financial Protection Bureau said that Hudson City Savings Bank tried to avoid locating branches and marketing mortgages in neighborhoods with a majority of black and Hispanic residents. [...]
Gupta said Thursday that the settlement is the largest the Justice Department has ever struck both, in terms of the monetary amount and the geographic regions covered.
She added that the civil rights division has recently seen an increased number of active redlining investigations.
http://www.reuters.com/article/2015/09/24/us-hudson-city-bcp-discrimination-idUSKCN0RO1XP20150924?feedType=RSS&feedName=domesticNews
There is a very sound case for reparations ....
Hudson City Bancorp will pay nearly $33 million to settle civil charges alleging the New Jersey-based bank wrongfully discriminated against prospective black and Hispanic home buyers, in a case that marks the largest ever redlining settlement in history, the U.S. government said on Thursday.
The joint action by the U.S. Justice Department and the Consumer Financial Protection Bureau said that Hudson City Savings Bank tried to avoid locating branches and marketing mortgages in neighborhoods with a majority of black and Hispanic residents. [...]
Gupta said Thursday that the settlement is the largest the Justice Department has ever struck both, in terms of the monetary amount and the geographic regions covered.
She added that the civil rights division has recently seen an increased number of active redlining investigations.
http://www.reuters.com/article/2015/09/24/us-hudson-city-bcp-discrimination-idUSKCN0RO1XP20150924?feedType=RSS&feedName=domesticNews