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You are here: Home / News / Fidelity Bank Agrees to Invest $1 Million to Settle Discrimination Complaint

Fidelity Bank Agrees to Invest $1 Million to Settle Discrimination Complaint

April 22, 2016by Jeff Dillman

On April 22, 2016, the Fair Housing Project of Legal Aid of North Carolina (LANC) announced that it had settled a fair housing complaint it had brought against North Carolina-based The Fidelity Bank. The complaint, which had been filed with the U.S. Department of Housing and Urban Development (HUD), had alleged that African American prospective borrowers were treated less favorably than whites, despite having higher income and other qualifications.

As a result of the settlement, Fidelity Bank has committed to make at least $500,000 in investments and community development loans in each of the next two years in predominantly minority census tracts where at least 40 percent of these loans will specifically promote affordable housing. In addition, the bank will provide fair lending training to staff, including loan originators and employees engaged in loan processing and underwriting, and will display fair housing and non-discrimination policies in English and Spanish at its Oberlin Road branch in Raleigh.

In a press release issued announcing the settlement, HUD Assistant Secretary for Fair Housing and Equal Opportunity Gustavo Velasquez stated:

Whether intentional or not, stark disparities exist in lending patterns and access to credit along racial and ethnic lines. HUD remains committed to not only enforcing the law, but also facilitating productive relationships between lenders and advocacy groups that help make lenders more aware of their obligations under the Fair Housing Act.

Both the federal Fair Housing Act and North Carolina’s State Fair Housing Act prohibit discrimination in housing transactions, including the making of mortgage loans, based on race, color, religion, national origin, sex/gender, familial status, and disability.

Click here to read HUD’s press release about the settlement.

Click here to read the settlement agreement.

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Filed Under: Featured, News Tagged With: affordable housing, fair housing act, HUD, lending, mortgage, race

Previous Post: « HUD Issues Guidance on Criminal History and Fair Housing
Next Post: HUD Increases Civil Penalty Amounts for Fair Housing Violations »

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    Fair Housing Project
    P.O. Box 26087
    Raleigh, NC 27611-6087
    1-855-797-3247
    info@fairhousingnc.org

    Our Mission

    The Fair Housing Project of Legal Aid of North Carolina works to eliminate housing discrimination and to ensure equal housing opportunity for all people through education, outreach, public policy initiatives, advocacy and enforcement.

     

    Legal Aid of North Carolina offers many services, which you can learn about at their website.

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    The materials contained on this website are for information and education purposes only and do not constitute legal advice. Legal Aid of North Carolina does not provide legal assistance by email. Contact the Fair Housing Project or a private attorney if you need to speak with an attorney regarding your particular situation. View our complete disclaimer.

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