By: Dee DeQuattro

Email:

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
.”




(C) WLNE-TV 2014