housing bust

RI News
1:57 pm
Thu May 29, 2014

Providence Sues Santander Bank Over Discriminatory Lending Practices

Attorney John Relman and Mayor Angel Taveras announce a federal lawsuit claiming Santander Bank engaged in discriminatory lending.
Credit Catherine Welch / RIPR

The City of Providence has filed a federal lawsuit claiming Santander Bank engaged in discriminatory lending practices. Lawyers filing the suit are calling the bank’s lending practices a civil rights issue.

The lawsuit claims that during the housing boom minority neighborhoods were given risky loans, then after the bust Santander stopped making loans in those neighborhoods and focused instead on white neighborhoods.

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