"DOJ Finds First National Bank Guilty of Discriminating Against Black and Latino Borrowers in North Carolina"
The Justice Department has accused First National Bank of Pennsylvania of discriminating against Black and Latino homebuyers in North Carolina for at least four years, resulting in a $13.5 million settlement to subsidize loans for affected borrowers. This marks the 13th redlining settlement under the Biden Administration, reflecting a heightened focus on racial discrimination in financial services. The DOJ's Redlining Taskforce has brought in $122 million in settlements and aims to address modern-day redlining as a barrier to equal economic opportunity and racial justice. FNB, while disagreeing with the findings, settled the case to move forward.