MIDDLETOWN, Conn. (AP) - A Connecticut bank that fair housing advocates alleged in a lawsuit discriminated against minority home loan borrowers has settled the case.
The Hartford Courant reports that under the agreement announced Monday, Liberty Bank will boost by $10 million a mortgage program for low- and moderate-income communities and set aside $300,000 to promote home ownership in neighborhoods where it’s been difficult to get a mortgage.
The Connecticut Fair Housing Center and the National Consumer Law Center sued last fall, alleging the Middletown-based bank violated the Fair Housing Act.
Under the agreement, the bank did not admit wrongdoing.
President and CEO Chandler Howard in a statement said Liberty is “deeply committed to helping people achieve their dream of home ownership.”
Liberty Bank, founded in 1825, is Connecticut’s oldest bank and has 58 branches.
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Information from: Hartford Courant, http://www.courant.com
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