Citadel Federal Credit Union agrees to pay feds $6.5M for lending discrimination
In a landmark agreement, Citadel Federal Credit Union will pay the federal government over $6.5 million to resolve allegations that it engaged in lending discrimination by redlining predominantly black and Hispanic neighborhoods in and around Philadelphia, according to the U.S. Department of Justice (DOJ). The DOJ said Oct. 10 this is its first redlining settlement with a credit union, making the agreement an historic achievement for the department’s Combating Redlining Initiative, which ta...
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House committee passes bill to better prosecute international trade crimes
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