Providence files lawsuit against Santander Bank - ABC6 - Providence, RI and New Bedford, MA News, Weather

Providence files lawsuit against Santander Bank

Posted: Updated:
By: Dee DeQuattro
Email: Ddequattro@abc6.com
Twitter: @deedequattro 

The City of Providence has filed a lawsuit against Santander Bank alleging that the bank has discriminated against Providence’s minority communities by not providing them access to prime mortgage loans as required under the Fair Housing Act.

According to the lawsuit filed in the United State District Court since 2009 Santander has reduced its lending to the city’s minority neighborhoods while expanding business to white neighborhoods.

Santander’s practices violate fair lending laws and hurt Providence families,” said Providence Mayor Angel Taveras. “Many borrowers in minority neighborhoods are qualified for prime loans, but Santander has written them off. That holds down property values and the broad economic recovery that a healthy housing market can help generate in every neighborhood in Providence.”

See the full complaint and maps comparing lending activity by neighborhood here.

(C) WLNE-TV 2014
Powered by WorldNow

10 Orms Street Providence, R.I. 02904
401-453-8000

All content © Copyright 2000 - 2014 WorldNow and WLNE.
All Rights Reserved.

For more information on this site, please read our Privacy Policy and Terms of Service.