Trump regulator quietly shelved discrimination investigations into BOA and other banks
July 13, 2020
By Pro Publica
In the spring of 2018, bank regulators trained to spot discriminatory lending detected something alarming at Bank of America.
The bank was offering fewer loans to minority homebuyers in Philadelphia than to white people in a way that troubled examiners from the Office of the Comptroller of the Currency, according to two people directly involved in the probe and internal documents reviewed by ProPublica and The Capitol Forum.
The officials suspected the second-largest bank in the United States was “redlining,” or deliberately turning its back on minority homebuyers, the people said.
But after complaints from Bank of America, the OCC’s investigation stalled by September 2018. The OCC, which is part of the U.S. Treasury Department, never sanctioned the bank.
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https://www.rawstory.com/2020/07/revealed-trump-regulator-quietly-shelved-discrimination-investigations-into-bank-of-america-and-other-banks/
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