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South Ala. bank to settle discrimination complaint
Thomasvillle, Al – First United Security Bank has agreed
to settle a lawsuit brought by federal prosecutors claiming the
bank discriminated against black borrowers.
The settlement calls for the bank to pay up to $50,000 total to
people federal authorities say were overcharged.
It also agreed to open a branch in a majority-black area within
three years, spend $500,000 to subsidize mortgages and
small-business loans in majority-black areas and spend $110,000
advertising to black borrowers.
In the lawsuit, officials alleged the bank redlined
majority-black areas and provided significantly more service to
majority-white than majority-black communities.
United Security denied the discrimination charges, saying it
settled because it couldn't afford a court fight.
Information from: Press-Register,