Consumer Law

An Indiana Bank Must Lend $27 Million to African American Home Buyers After Being Accused of Discrimination

Old National Bank, based in Indiana, will direct more housing loan opportunities to the Black residents in order to settle a federal racial discrimination lawsuit filed back in October. The Fair Housing Center of Central Indiana (FHCCI) accused the bank of discriminating against Black people with their mortgage lending practices and violating the Fair Housing Act.

According to the Associated Press, Old National must lend out $27 million in loans to Black applicants and use another $3 million to create programs geared towards aiding Black people seeking mortgages.

In the FHCCI’s federal complaint, Old National Bank gave out 37 mortgage loans to Black applicants from 2019 to 2020 in the Indianapolis Metropolitan Statistical Area, according to IndyStar. An okay stand alone number until you realize the bank gave out 2,260 loans in total and nearly 28% of the Marion County population is Black.

Read the source article at theroot.com

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