by Matthew Russell Lee, Patreon Book Substack
SOUTH BRONX, Jan 20 – Patriot Bank in Tennessee settled redlining discrimination charges with DOJ on January 17, 2024.
But the Federal Reserve in 2022 gave Patriot Bank a "Satisfactory" rating under the Community Reinvestment Act, stating that "no evidence of discriminatory or other illegal credit practices inconsistent with helping to meet community credit needs was identified."
So the Federal Reserve, at least its CRA exams and merger reviews, is not credible.
And DOJ? Settling for less than $2 million?
Inner City Press has submitted a FOIA request to the Fed, on behalf of Fair Finance Watch, about another recent DOJ lending discrimiantion case and FRB merger, Provident / Lakeland - watch this site
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