Santander Bank

RI News
8:44 am
Fri November 7, 2014

City Of Providence Drops Lawsuit Against Santander Bank

Attorney John Relman and Providence Mayor Angel Taveras at a press conference in May announcing the lawsuit against Santander.
Credit Catherine Welch / RIPR

Providence has dropped its lawsuit against the bank Santander. The suit filed back in May claimed the bank deliberately limited lending in minority neighborhoods while expanding lending in white ones.

At the time, lawyers called the bank’s lending practices a civil rights issue. Less than six months later, they settled. Santander will make $1.3 million in grants going to the Providence Community Library, arts organization AS220, and a non-profit that will help low-income residents secure a mortgage.

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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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