Hudson City Savings Bank to pay $27 million to increase access to credit in Black and Hispanic neighborhoods it discriminated against

When you shop for a mortgage, you should not have to worry about discrimination. The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating against applicants on the basis of race or ethnicity. Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a complaint alleging that Hudson City Savings Bank violated the ECOA by engaging in unlawful redlining from 2009 to 2013. The complaint alleges that Hudson City redlined by locating its branches and selecting mortgage brokers nearly all outside of majority-Black-and-Hispanic neighborhoods, among other actions. In other words, it intentionally discouraged potential borrowers fr…
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