U.S. Zeal in Suing Banks for Lending Bias Is Expected to Cool
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Doug Hile, president and chief executive of KleinBank in Chaska, Minn. “I never in my wildest dreams thought that there would be any inclination that this organization should be serving the cities of Minneapolis and St. Paul,” he said. CreditNate Ryan for The New York Times
WASHINGTON — A week before President Obama left office, the Justice Department sued a Minnesota community bank, saying it failed to offer enough loans to people in minority neighborhoods in the Twin Cities area.
It is the latest in a wave of related cases in recent years, but bankers and consumer watchdogs say that could soon slow to a trickle — at least for the foreseeable future. The new administration’s deregulatory fervor has stirred expectations for a pullback in the enforcement of laws aimed at preventing discrimination in lending, a shift that has banks hopeful and consumer advocates on guard…
U.S. Zeal in Suing Banks for Lending Bias Is Expected to Cool
