Biased Lending Evolves, and Blacks Face Trouble Getting Mortgages
By
A Hudson City Savings Bank branch in Orange, N.J. The bank has settled a lawsuit that accused it of focusing its marketing of mortgages in predominantly white communities.CreditÁngel Franco/The New York Times
NEWARK — The green welcome sign hangs in the front door of the downtown branch ofHudson City Savings Bank, New Jersey’s largest savings bank. But for years, federal regulators said, its executives did what they could to keep certain customers out.
They steered clear of black and Hispanic neighborhoods as they opened branches across New York and Connecticut, federal officials said. They focused on marketing mortgages in predominantly white sections of suburban New Jersey and Long Island, not here or in Bridgeport, Conn…
Biased Lending Evolves, and Blacks Face Trouble Getting Mortgages
